JPMorgan Chase & Co. Cuts APA (NASDAQ:APA) Price Target to $25.00

APA (NASDAQ:APA) had its target price reduced by JPMorgan Chase & Co. from $29.00 to $25.00 in a research report sent to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other brokerages also recently commented on APA. Wells Fargo & Company cut their price target on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Citigroup cut their target price on shares of APA from $32.00 to $29.00 in a research note on Friday, October 18th. Truist Financial reduced their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a report on Friday, November 8th. Bernstein Bank dropped their price objective on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. Finally, Piper Sandler reduced their target price on shares of APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.95.

APA Trading Up 0.7 %

APA stock opened at $22.02 on Wednesday. APA has a 52 week low of $21.15 and a 52 week high of $38.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $8.15 billion, a PE ratio of 3.11 and a beta of 3.24. The business’s 50-day simple moving average is $24.64 and its 200-day simple moving average is $27.80.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.54%. APA’s dividend payout ratio is presently 14.12%.

Institutional Investors Weigh In On APA

Hedge funds have recently made changes to their positions in the company. Covestor Ltd raised its position in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares during the last quarter. Rothschild Investment LLC acquired a new position in APA during the 2nd quarter worth about $42,000. GPS Wealth Strategies Group LLC increased its position in APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Huntington National Bank increased its position in APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after acquiring an additional 561 shares in the last quarter. Institutional investors and hedge funds 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.