UBS Group Lowers APA (NASDAQ:APA) Price Target to $27.00

APA (NASDAQ:APA) had its price objective reduced by UBS Group from $28.00 to $27.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued reports about the company. Piper Sandler cut their price objective on APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Scotiabank reduced their price target on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Bernstein Bank reduced their target price on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. Finally, Citigroup lowered their price target on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, APA presently has an average rating of “Hold” and a consensus price target of $32.52.

APA Trading Up 0.5 %

NASDAQ APA opened at $22.38 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA has a one year low of $20.95 and a one year high of $37.82. The company’s 50 day moving average price is $23.66 and its 200 day moving average price is $26.67. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 3.16 and a beta of 3.19.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.47%. APA’s payout ratio is 14.12%.

Hedge Funds Weigh In On APA

Several institutional investors have recently made changes to their positions in APA. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of APA by 12.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after acquiring an additional 3,411,270 shares during the period. Harris Associates L P increased its stake in shares of APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after purchasing an additional 4,293,932 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock valued at $293,312,000 after buying an additional 485,291 shares during the last quarter. Smead Capital Management Inc. grew its holdings in APA by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after buying an additional 326,042 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of APA by 2.5% during the third quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock valued at $226,928,000 after purchasing an additional 224,547 shares in the last quarter. 83.01% of the stock is owned by 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.