APA (NASDAQ:APA) Given New $32.00 Price Target at Royal Bank of Canada

APA (NASDAQ:APA - Free Report) had its price objective cut by Royal Bank of Canada from $34.00 to $32.00 in a report published on Monday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research analysts have also issued reports on the company. Scotiabank reduced their price target on APA from $30.00 to $27.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. Bernstein Bank decreased their target price on APA from $30.00 to $28.00 in a report on Friday, October 18th. Piper Sandler reduced their price target on shares of APA from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Tuesday, October 15th. Barclays lowered 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. Finally, Susquehanna dropped their price target on shares of APA from $52.00 to $48.00 and set a "positive" rating on the stock in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, APA presently has a consensus rating of "Hold" and an average target price of $33.50.

APA Stock Up 1.8 %

NASDAQ:APA traded up $0.40 during mid-day trading on Monday, reaching $22.17. The stock had a trading volume of 8,348,495 shares, compared to its average volume of 5,808,183. The stock's 50 day simple moving average is $24.81 and its two-hundred day simple moving average is $27.92. APA has a 1-year low of $21.15 and a 1-year high of $38.27. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 3.13 and a beta of 3.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 1.01.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 yield of 4.51%. APA's dividend payout ratio (DPR) is presently 14.12%.

Institutional Trading of APA

Several large investors have recently made changes to their positions in APA. Covestor Ltd increased its stake in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company's stock valued at $38,000 after buying an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company's stock worth $40,000 after purchasing an additional 1,079 shares during the last quarter. Rothschild Investment LLC bought a new stake in APA during the 2nd quarter worth about $42,000. GPS Wealth Strategies Group LLC boosted its stake in shares of APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company's stock valued at $50,000 after purchasing an additional 1,590 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company's stock valued at $42,000 after purchasing an additional 561 shares during the last quarter. Institutional investors 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.