APA (NASDAQ:APA) Price Target Cut to $32.00 by Analysts at Royal Bank of Canada

APA (NASDAQ:APA) had its target price trimmed by Royal Bank of Canada from $34.00 to $32.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other research firms have also recently commented on APA. The Goldman Sachs Group reduced their price target on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. Barclays decreased their target price on shares of APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday. Susquehanna dropped their price target on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. UBS Group cut their price objective on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Finally, Scotiabank reduced their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, APA presently has a consensus rating of “Hold” and a consensus target price of $33.50.

APA Stock Up 1.2 %

Shares of APA stock traded up $0.26 on Monday, reaching $22.43. 509,540 shares of the company were exchanged, compared to its average volume of 6,227,471. 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 company has a 50-day moving average of $24.81 and a 200 day moving average of $27.92. APA has a one year low of $21.15 and a one year high of $38.27. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 3.13 and a beta of 3.24.

APA Announces Dividend

The company 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.46%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio is 14.12%.

Institutional Investors Weigh In On APA

A number of hedge funds have recently made changes to their positions in APA. Dimensional Fund Advisors LP boosted its stake in shares of APA by 131.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after purchasing an additional 2,736,041 shares during the period. Vanguard Group Inc. raised its stake in shares of APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after acquiring an additional 2,004,555 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of APA by 3,450.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock worth $24,115,000 after purchasing an additional 958,141 shares in the last quarter. Webs Creek Capital Management LP acquired a new position in APA during the 1st quarter valued at approximately $28,593,000. Finally, AQR Capital Management LLC increased its position in shares of APA by 112.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after acquiring an additional 767,557 shares during the period. 83.01% of the stock is currently 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.