APA’s (APA) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of APA (NASDAQ:APA) in a report issued on Thursday,Benzinga reports. Royal Bank of Canada currently has a $32.00 price target on the stock.

Several other equities research analysts have also commented on APA. Barclays cut their price objective on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their price target on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Susquehanna dropped their target price on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a report on Friday, October 18th. Evercore ISI dropped their target price on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, January 3rd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.65.

APA Price Performance

Shares of NASDAQ APA opened at $23.51 on Thursday. 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 firm’s 50 day simple moving average is $22.75 and its 200-day simple moving average is $25.39. APA has a 12 month low of $20.32 and a 12 month high of $36.04. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 3.32 and a beta of 3.16.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders 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 4.25%. APA’s payout ratio is currently 14.12%.

Insider Activity

In other APA news, Director Juliet S. Ellis bought 4,391 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average price 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 legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On APA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC increased its stake 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 valued at $29,000 after acquiring an additional 540 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of APA by 93.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock valued at $37,000 after acquiring an additional 780 shares during the last quarter. Huntington National Bank lifted its stake in APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after buying an additional 561 shares in the last quarter. Eastern Bank lifted its position in shares of APA by 355.0% in the 4th quarter. Eastern Bank now owns 2,275 shares of the company’s stock valued at $53,000 after acquiring an additional 1,775 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after purchasing an additional 1,604 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

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.