APA Co. (NASDAQ:APA) Receives Average Rating of “Hold” from Brokerages

Shares of APA Co. (NASDAQ:APA) have been given a consensus rating of “Hold” by the twenty research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $31.14.

A number of brokerages have issued reports on APA. Bernstein Bank decreased their target price on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. Scotiabank lowered their target price on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Susquehanna cut their price target on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Truist Financial lowered their price target on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Mizuho cut their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research report on Monday, December 16th.

Insiders Place Their Bets

In other news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $22.78 per share, with a total value of $100,026.98. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of APA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC grew its position in APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after acquiring an additional 3,411,270 shares during the period. Harris Associates L P boosted its stake in shares of APA by 20.8% in the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of APA by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after purchasing an additional 485,291 shares during the last quarter. Smead Capital Management Inc. increased its position in shares of APA by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after purchasing an additional 326,042 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in APA by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock valued at $226,928,000 after purchasing an additional 224,547 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Up 2.7 %

Shares of APA stock opened at $21.04 on Friday. APA has a 1 year low of $20.32 and a 1 year high of $37.82. The company has a market cap of $7.78 billion, a P/E ratio of 2.97 and a beta of 3.18. 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 stock has a 50-day moving average price of $23.07 and a 200 day moving average price of $26.36.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s payout ratio is currently 14.12%.

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.