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

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

A number of other research analysts have also recently issued reports on APA. Piper Sandler reduced their price objective on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Bernstein Bank decreased their price target on APA from $30.00 to $28.00 in a research note on Friday, October 18th. Mizuho dropped their price objective on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research note on Monday, December 16th. Barclays decreased their target price on shares of APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group dropped their price target on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, eleven have given 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.com, the stock has a consensus rating of “Hold” and an average target price of $30.55.

APA Price Performance

Shares of APA stock opened at $24.40 on Wednesday. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 3.45 and a beta of 3.16. The company has a fifty day moving average of $22.57 and a 200-day moving average of $25.58. 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.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s dividend payout ratio is presently 14.12%.

Insider Activity at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of APA stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now directly owns 12,436 shares in the company, valued at approximately $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On APA

A number of institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC grew its position in APA by 84.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of APA by 93.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after buying an additional 780 shares in the last quarter. Huntington National Bank grew its holdings in shares of 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 during the last quarter. Eastern Bank increased its position in shares of APA by 355.0% during the fourth 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. raised its holdings in APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after acquiring an additional 1,604 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other 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.