APA (NASDAQ:APA) Stock Price Down 4.6% – Should You Sell?

APA Co. (NASDAQ:APA) shares traded down 4.6% on Wednesday . The company traded as low as $17.98 and last traded at $17.72. 823,923 shares changed hands during trading, a decline of 89% from the average session volume of 7,757,566 shares. The stock had previously closed at $18.57.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APA. Raymond James boosted their price target on APA from $44.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Mizuho decreased their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. Citigroup reduced their price target on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Wells Fargo & Company lowered shares of APA from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $42.00 to $25.00 in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.80.

APA Stock Performance

The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 2.74 and a beta of 3.26. The stock has a 50-day moving average of $22.73 and a 200 day moving average of $23.75.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. On average, analysts expect that APA Co. will post 4.03 EPS for the current year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.16%. APA’s dividend payout ratio (DPR) is presently 44.25%.

Insider Activity at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On APA

Several hedge funds have recently bought and sold shares of APA. Brown Brothers Harriman & Co. increased its position in shares of APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after buying an additional 1,077 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares during the period. Riverview Trust Co lifted its holdings in shares of APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after purchasing an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after purchasing an additional 586 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in APA during the 4th quarter worth approximately $35,000. 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.