Barclays Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price target reduced by Barclays from $30.00 to $27.00 in a research report sent to investors on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price objective on shares of APA in a research report on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price objective on APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. Citigroup reduced their price objective on APA from $32.00 to $29.00 in a research report on Friday, October 18th. Wells Fargo & Company reduced their price objective on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Evercore ISI reduced their price objective on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, APA currently has an average rating of “Hold” and a consensus target price of $33.50.

APA Price Performance

Shares of APA opened at $22.17 on Friday. APA has a 52 week low of $21.15 and a 52 week high of $38.27. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 3.13 and a beta of 3.24. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average of $24.81 and a 200-day moving average of $27.92.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is 14.12%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of APA by 18.5% during the first quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,580 shares during the last quarter. Woodstock Corp lifted its holdings in shares of APA by 20.3% during the third quarter. Woodstock Corp now owns 308,253 shares of the company’s stock valued at $7,540,000 after purchasing an additional 51,993 shares during the last quarter. Ellis Investment Partners LLC purchased a new stake in shares of APA during the second quarter valued at $2,499,000. Finally, AQR Capital Management LLC lifted its holdings in shares of APA by 112.6% during the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after purchasing an additional 767,557 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

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.