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

APA (NASDAQ:APA) had its price objective trimmed by Royal Bank of Canada from $34.00 to $32.00 in a report released on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other equities research analysts have also recently commented on APA. The Goldman Sachs Group dropped their target price on APA from $26.00 to $25.00 in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Evercore ISI reduced their target price on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Mizuho decreased their price objective on shares of APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Finally, UBS Group cut their target price on shares of APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.95.

APA Stock Performance

APA opened at $22.60 on Monday. The stock has a market cap of $8.36 billion, a P/E ratio of 3.19 and a beta of 3.24. 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 fifty day moving average price of $24.57 and a 200 day moving average price of $27.76. 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. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.42%. APA’s dividend payout ratio (DPR) is 14.12%.

Hedge Funds Weigh In On APA

Several large investors have recently modified their holdings of the business. Covestor Ltd lifted its position in APA by 75.4% in the first 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 last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of APA by 386.7% in the 2nd 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 period. Rothschild Investment LLC acquired a new position in shares of APA in the 2nd quarter worth approximately $42,000. Huntington National Bank boosted its position 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 purchasing an additional 561 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its holdings in 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. Institutional investors and hedge funds 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.