APA (NASDAQ:APA) Price Target Cut to $24.00 by Analysts at Citigroup

APA (NASDAQ:APA) had its price target decreased by Citigroup from $29.00 to $24.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities analysts also recently weighed in on the stock. Scotiabank lowered their price target on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Barclays lowered their price target on shares of APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, November 8th. Susquehanna lowered their price target on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada lowered their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.57.

APA Stock Performance

APA opened at $22.52 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 3.18 and a beta of 3.24. The company’s 50 day moving average is $24.31 and its 200 day moving average is $27.32. APA has a 12-month low of $21.15 and a 12-month high of $37.82.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, October 22nd. APA’s payout ratio is 14.12%.

Institutional Trading of APA

A number of large investors have recently made changes to their positions in APA. TD Private Client Wealth LLC boosted 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 purchasing an additional 540 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after purchasing an additional 1,079 shares during the period. Rothschild Investment LLC purchased a new stake in shares of APA during the second quarter valued at $42,000. Huntington National Bank boosted its stake 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 purchasing an additional 561 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after purchasing an additional 1,590 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Company Profile

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.