Analysts Set APA Co. (NASDAQ:APA) PT at $30.55

Shares of APA Co. (NASDAQ:APA) have earned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $30.55.

A number of research analysts recently weighed in on APA shares. Wells Fargo & Company downgraded shares of APA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $42.00 to $25.00 in a research report on Tuesday, December 17th. Piper Sandler lowered their price target on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Bernstein Bank cut their price objective on APA from $30.00 to $28.00 in a report on Friday, October 18th. Barclays reduced their price objective on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped their target price on APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th.

Insider Activity

In related news, Director Juliet S. Ellis bought 4,391 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the purchase, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

Several large investors have recently modified their holdings of APA. TD Private Client Wealth LLC grew its stake in APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the last quarter. Huntington National Bank grew its position in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after buying an additional 561 shares during the last quarter. Blue Trust Inc. raised its stake in shares of APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after acquiring an additional 1,604 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in APA during the second quarter valued at approximately $76,000. Finally, Covestor Ltd lifted its position in APA by 40.8% during the third quarter. Covestor Ltd now owns 3,093 shares of the company’s stock valued at $76,000 after acquiring an additional 896 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Performance

NASDAQ:APA opened at $23.68 on Wednesday. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 3.34 and a beta of 3.16. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average price is $22.44 and its 200-day moving average price is $25.73. APA has a 52 week low of $20.32 and a 52 week high of $36.04.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be given a $0.25 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.22%. APA’s dividend payout ratio is presently 14.12%.

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.