JPMorgan Chase & Co. Lowers APA (NASDAQ:APA) Price Target to $25.00

APA (NASDAQ:APA - Free Report) had its price objective reduced by JPMorgan Chase & Co. from $29.00 to $25.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts also recently commented on APA. Sanford C. Bernstein dropped their target price on shares of APA from $37.00 to $30.00 and set a "market perform" rating on the stock in a report on Wednesday, July 17th. UBS Group lowered their price objective on shares of APA from $35.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company lowered their price objective on shares of APA from $49.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, October 1st. Scotiabank lowered their price objective on shares of APA from $30.00 to $27.00 and set a "sector perform" rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler lowered their price objective on shares of APA from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $33.41.

APA Stock Up 0.7 %

APA stock traded up $0.15 during mid-day trading on Wednesday, hitting $22.02. 6,713,695 shares of the company were exchanged, compared to its average volume of 6,259,805. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $8.15 billion, a P/E ratio of 3.11 and a beta of 3.24. The firm's 50 day simple moving average is $24.71 and its 200 day simple moving average is $27.84. APA has a 1-year low of $21.15 and a 1-year high of $38.27.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.54%. APA's payout ratio is presently 14.12%.

Institutional Investors Weigh In On APA

A number of institutional investors have recently modified their holdings of APA. Covestor Ltd raised its stake in APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company's stock worth $38,000 after acquiring an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company's stock valued at $40,000 after acquiring an additional 1,079 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of APA during the 2nd quarter worth approximately $42,000. Huntington National Bank boosted its holdings in shares of APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company's stock worth $42,000 after buying an additional 561 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company's stock worth $50,000 after buying an additional 1,590 shares in the last quarter. Institutional investors own 83.01% of the company's stock.

APA Company Profile

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.