APA (NASDAQ:APA) Price Target Lowered to $33.00 at Truist Financial

APA (NASDAQ:APA) had its price objective lowered by Truist Financial from $36.00 to $33.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on APA. Citigroup dropped their price objective on shares of APA from $32.00 to $29.00 in a research note on Friday, October 18th. Scotiabank decreased their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. The Goldman Sachs Group reduced their target price on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. Finally, Wells Fargo & Company decreased their target price 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. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, APA currently has an average rating of “Hold” and an average target price of $33.50.

APA Stock Up 1.8 %

APA stock opened at $22.17 on Friday. APA has a 1-year low of $21.15 and a 1-year high of $38.27. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 3.13 and a beta of 3.24. The firm’s fifty day moving average price is $24.81 and its two-hundred day moving average price is $27.92. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 1.03.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid 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 4.51%. APA’s dividend payout ratio (DPR) is 14.12%.

Institutional Investors Weigh In On APA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased 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 worth $40,000 after acquiring an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of APA in the 2nd quarter worth about $42,000. Huntington National Bank grew its position in APA by 48.8% during 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. Finally, GPS Wealth Strategies Group LLC grew its position in APA by 1,325.0% during 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. 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.