APA (NASDAQ:APA) Trading 4.1% Higher Following Analyst Upgrade

Shares of APA Co. (NASDAQ:APA) traded up 4.1% on Thursday after Raymond James raised their price target on the stock from $44.00 to $45.00. Raymond James currently has a strong-buy rating on the stock. APA traded as high as $24.28 and last traded at $24.32. 691,970 shares changed hands during trading, a decline of 88% from the average session volume of 5,946,523 shares. The stock had previously closed at $23.36.

A number of other brokerages have also recently weighed in on APA. Susquehanna reduced their price target on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Citigroup reduced their target price on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price target on APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. UBS Group reduced their price objective on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Mizuho decreased their price objective on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.65.

Insider Buying and Selling

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

Institutional Investors Weigh In On APA

A number of large investors have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC raised its holdings in APA by 84.1% in the 3rd 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 last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in APA by 93.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock valued at $37,000 after purchasing an additional 780 shares during the period. Huntington National Bank increased its position in APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares during the last quarter. Eastern Bank raised 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 worth $53,000 after buying an additional 1,775 shares during the period. Finally, Blue Trust Inc. raised its position in shares of 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 buying an additional 1,604 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Up 1.0 %

The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 3.33 and a beta of 3.16. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average of $22.73 and a two-hundred day moving average of $25.40.

APA Dividend Announcement

The business 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. This represents a $1.00 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

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.