Shares of APA Co. (NASDAQ:APA - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $21.11 and last traded at $21.16, with a volume of 1882292 shares. The stock had previously closed at $21.84.
Wall Street Analysts Forecast Growth
APA has been the subject of several recent research reports. Royal Bank of Canada dropped their target price on shares of APA from $34.00 to $32.00 and set a "sector perform" rating for the company in a report on Monday, November 11th. Truist Financial dropped their price objective 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. Barclays reduced their target price on APA from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group dropped their price target on APA from $26.00 to $25.00 in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price objective on APA from $49.00 to $47.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $32.57.
Read Our Latest Analysis on APA
APA Price Performance
The company has a market cap of $7.92 billion, a price-to-earnings ratio of 3.03 and a beta of 3.18. The company's 50-day simple moving average is $23.84 and its 200-day simple moving average is $26.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.
APA Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Tuesday, October 22nd. APA's dividend payout ratio is currently 14.12%.
Institutional Trading of APA
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC increased its stake in APA by 12.6% during 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 purchasing an additional 3,411,270 shares during the last quarter. Harris Associates L P boosted its holdings in shares of APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company's stock valued at $609,414,000 after acquiring an additional 4,293,932 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company's stock valued at $293,312,000 after acquiring an additional 485,291 shares during the period. Smead Capital Management Inc. increased its holdings in shares of APA by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company's stock worth $236,466,000 after acquiring an additional 326,042 shares during the period. Finally, Geode Capital Management LLC lifted its position in APA by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company's stock valued at $226,928,000 after purchasing an additional 224,547 shares during the last quarter. Institutional investors own 83.01% of the company's stock.
APA Company Profile
(
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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.
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