APA (NASDAQ:APA) Price Target Cut to $32.00 by Analysts at Royal Bank of Canada

APA (NASDAQ:APA) had its price objective lowered by Royal Bank of Canada from $34.00 to $32.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other brokerages have also commented on APA. Evercore ISI decreased their price target on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Sanford C. Bernstein lowered their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. The Goldman Sachs Group reduced their price target on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. Susquehanna lowered their price objective on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Finally, Wolfe Research began coverage on APA in a research report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.50.

APA Price Performance

NASDAQ APA traded up $0.26 during trading hours on Monday, hitting $22.43. 509,540 shares of the company’s stock traded hands, compared to its average volume of 6,227,471. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 1.01. The firm’s 50-day moving average is $24.81 and its 200-day moving average is $27.92. APA has a 52-week low of $21.15 and a 52-week high of $38.27. The company has a market capitalization of $8.30 billion, a PE ratio of 3.13 and a beta of 3.24.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio is presently 14.12%.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after acquiring an additional 2,004,555 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of APA by 18.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,580 shares during the last quarter. Woodstock Corp grew its stake in APA by 20.3% during the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company’s stock worth $7,540,000 after buying an additional 51,993 shares during the last quarter. Ellis Investment Partners LLC purchased a new stake in APA in the second quarter valued at approximately $2,499,000. Finally, AQR Capital Management LLC boosted its holdings in shares of APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after acquiring an additional 767,557 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.