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

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

APA has been the topic of several other reports. Scotiabank lowered their price objective 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. Evercore ISI decreased their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Citigroup decreased their price objective on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Susquehanna reduced their target price on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Finally, Truist Financial reduced their price target on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.65.

APA Trading Up 0.6 %

APA stock opened at $23.51 on Thursday. APA has a 52 week low of $20.32 and a 52 week high of $36.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $8.70 billion, a PE ratio of 3.32 and a beta of 3.16. The business’s 50-day simple moving average is $22.75 and its 200-day simple moving average is $25.39.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is currently 14.12%.

Insiders Place Their Bets

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This represents a 54.58 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hartford Financial Management Inc. increased its position in shares of APA by 14.8% in the fourth quarter. Hartford Financial Management Inc. now owns 5,149 shares of the company’s stock worth $119,000 after purchasing an additional 663 shares during the last quarter. Mediolanum International Funds Ltd grew its position in APA by 56.3% during the fourth quarter. Mediolanum International Funds Ltd now owns 309,983 shares of the company’s stock valued at $6,933,000 after acquiring an additional 111,698 shares during the last quarter. OLD National Bancorp IN grew its position in APA by 20.9% during the fourth quarter. OLD National Bancorp IN now owns 254,254 shares of the company’s stock valued at $5,871,000 after acquiring an additional 44,024 shares during the last quarter. Abel Hall LLC bought a new position in APA during the fourth quarter valued at approximately $239,000. Finally, Baader Bank Aktiengesellschaft grew its holdings in shares of APA by 175.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company’s stock valued at $543,000 after purchasing an additional 14,980 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

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.