APA (NASDAQ:APA) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of APA (NASDAQ:APA) in a research note published on Wednesday,Benzinga reports. The brokerage currently has a $32.00 target price on the stock.

Several other research analysts have also weighed in on the stock. Citigroup lowered their target price on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Piper Sandler lowered their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Truist Financial lowered their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company lowered shares of APA from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Finally, Susquehanna lowered their price objective on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.55.

APA Trading Up 2.4 %

Shares of APA stock opened at $25.45 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $9.42 billion, a PE ratio of 3.59 and a beta of 3.16. The company has a 50-day moving average of $22.51 and a two-hundred day moving average of $25.58. APA has a 1-year low of $20.32 and a 1-year high of $36.04.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 3.93%. APA’s dividend payout ratio (DPR) is 14.12%.

Insider Activity at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $22.78 per share, with a total value of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI raised its holdings in APA by 6.7% during the second quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after purchasing an additional 429 shares in the last quarter. Empirical Finance LLC grew its position in APA by 1.6% during the 3rd quarter. Empirical Finance LLC now owns 31,272 shares of the company’s stock worth $765,000 after purchasing an additional 497 shares during the last quarter. UMB Bank n.a. increased its stake in APA by 16.9% in the third quarter. UMB Bank n.a. now owns 3,556 shares of the company’s stock valued at $87,000 after purchasing an additional 513 shares during the period. NewEdge Advisors LLC boosted its stake in shares of APA by 1.1% during the second quarter. NewEdge Advisors LLC now owns 46,603 shares of the company’s stock worth $1,372,000 after buying an additional 521 shares during the period. Finally, Segment Wealth Management LLC grew its holdings in shares of APA by 1.0% during the third quarter. Segment Wealth Management LLC now owns 54,367 shares of the company’s stock worth $1,330,000 after buying an additional 535 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.