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

APA (NASDAQ:APA) had its target price trimmed by JPMorgan Chase & Co. from $29.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on APA. Wells Fargo & Company decreased their price target on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Truist Financial decreased their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. UBS Group dropped 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. Royal Bank of Canada decreased their price objective on shares of APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Finally, Bernstein Bank cut their target price on APA from $30.00 to $28.00 in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.95.

APA Stock Performance

Shares of NASDAQ APA opened at $22.38 on Wednesday. APA has a 12-month low of $21.15 and a 12-month high of $37.82. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The company has a market cap of $8.28 billion, a PE ratio of 3.16 and a beta of 3.24. The stock has a 50 day simple moving average of $24.51 and a 200-day simple moving average of $27.67.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued 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 dividend yield of 4.47%. APA’s dividend payout ratio is 14.12%.

Hedge Funds Weigh In On APA

Hedge funds have recently modified their holdings of the stock. 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 acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings 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 purchasing an additional 1,079 shares during the last quarter. Rothschild Investment LLC bought a new stake in APA during the second quarter worth about $42,000. Huntington National Bank increased its holdings in shares of APA by 48.8% during the third 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 raised its position 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. 83.01% of the stock is owned by institutional investors and hedge funds.

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.