APA Co. (NASDAQ:APA) Receives Average Recommendation of "Hold" from Brokerages

Shares of APA Co. (NASDAQ:APA - Get Free Report) have earned a consensus rating of "Hold" from the nineteen research firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $30.55.

APA has been the subject of several recent research reports. Mizuho lowered their price objective on APA from $25.00 to $24.00 and set an "underperform" rating for the company in a research report on Monday, December 16th. Citigroup dropped their target price on APA from $29.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, November 26th. Barclays cut their price target on shares of APA from $30.00 to $27.00 and set an "equal weight" rating on the stock in a report on Friday, November 8th. Piper Sandler reduced their target price on APA from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, December 17th. Finally, Royal Bank of Canada dropped their price objective on APA from $34.00 to $32.00 and set a "sector perform" rating on the stock in a research report on Monday, November 11th.

Insider Activity

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of APA stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $22.78 per share, for a total transaction of $100,026.98. Following 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On APA

A number of hedge funds have recently made changes to their positions in the stock. Harris Associates L P boosted its position in shares of APA by 20.8% in the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company's stock worth $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company's stock valued at $745,341,000 after buying an additional 3,411,270 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company's stock worth $141,704,000 after acquiring an additional 2,736,041 shares in the last quarter. Mizuho Securities USA LLC grew its stake in shares of APA by 3,450.8% during the third quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company's stock worth $24,115,000 after acquiring an additional 958,141 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of APA by 112.6% during the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company's stock worth $42,092,000 after acquiring an additional 767,557 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Trading Up 0.1 %

Shares of APA stock traded up $0.02 during trading hours on Wednesday, reaching $23.68. The company's stock had a trading volume of 4,305,914 shares, compared to its average volume of 5,216,663. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a one year low of $20.32 and a one year high of $36.04. The stock has a market capitalization of $8.76 billion, a P/E ratio of 3.34 and a beta of 3.16. The firm's fifty day simple moving average is $22.44 and its 200 day simple moving average is $25.75.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA's payout ratio is currently 14.12%.

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.