APA (NASDAQ:APA) Shares Down 4.6%

APA Co. (NASDAQ:APA) shares traded down 4.6% during mid-day trading on Thursday . The company traded as low as $23.33 and last traded at $23.43. 2,765,919 shares changed hands during trading, a decline of 55% from the average session volume of 6,204,802 shares. The stock had previously closed at $24.57.

Analysts Set New Price Targets

APA has been the topic of a number of analyst reports. Scotiabank cut their price target on shares of APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. UBS Group reduced their price target on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Bank of America restated an “underperform” rating and issued a $31.00 price objective on shares of APA in a research report on Friday, June 14th. JPMorgan Chase & Co. decreased their target price on APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Wells Fargo & Company dropped their price target on APA from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, APA has an average rating of “Hold” and a consensus price target of $36.38.

APA Trading Up 6.0 %

The company has a market cap of $9.11 billion, a price-to-earnings ratio of 2.74 and a beta of 3.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average price is $27.56 and its 200-day moving average price is $29.88.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company’s revenue was up 41.6% on a year-over-year basis. On average, equities analysts anticipate that APA Co. will post 4.04 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently disclosed 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 is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.08%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Trading of APA

Institutional investors have recently modified their holdings of the stock. American National Bank raised its stake in APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares in the last quarter. Covestor Ltd raised its holdings in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after buying an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake 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 buying an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new position in APA in the second quarter valued at about $42,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

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.