APA (NASDAQ:APA) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of APA (NASDAQ:APA) from an overweight rating to an equal weight rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has $25.00 price target on the stock, down from their prior price target of $42.00.

Other equities research analysts have also recently issued research reports about the company. Citigroup lowered their target price on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Piper Sandler decreased their price objective on APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Evercore ISI cut their target price on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada decreased their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. Finally, Mizuho cut their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.14.

APA Stock Down 1.7 %

APA opened at $20.48 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 2.89 and a beta of 3.18. APA has a one year low of $20.32 and a one year high of $37.82. The business’s fifty day moving average is $23.07 and its two-hundred day moving average is $26.36.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Wednesday, January 22nd. APA’s payout ratio is 14.12%.

Insider Buying and Selling at APA

In related news, Director Juliet S. Ellis purchased 4,391 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the acquisition, the director now directly owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. The trade was a 54.58 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in APA by 31.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,709 shares of the company’s stock valued at $580,000 after purchasing an additional 4,764 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of APA by 32.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 987,588 shares of the company’s stock valued at $29,075,000 after buying an additional 243,325 shares during the last quarter. Raymond James & Associates raised its stake in APA by 29.2% during the second quarter. Raymond James & Associates now owns 644,140 shares of the company’s stock worth $18,963,000 after acquiring an additional 145,695 shares during the period. Nisa Investment Advisors LLC lifted its holdings in APA by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 95,760 shares of the company’s stock worth $2,819,000 after acquiring an additional 6,152 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in APA by 11.8% in the second quarter. Fifth Third Bancorp now owns 16,072 shares of the company’s stock valued at $473,000 after acquiring an additional 1,699 shares during the period. Institutional investors 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.