Citigroup Cuts APA (NASDAQ:APA) Price Target to $24.00

APA (NASDAQ:APA) had its price objective lowered by Citigroup from $29.00 to $24.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

APA has been the topic of several other reports. Royal Bank of Canada reduced their price objective on APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. Truist Financial reduced their price target on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Bernstein Bank decreased their price objective on APA from $30.00 to $28.00 in a research note on Friday, October 18th. Piper Sandler cut their target price on shares of APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Finally, Wells Fargo & Company decreased their price target on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.57.

APA Price Performance

Shares of APA opened at $22.52 on Tuesday. The company has a market cap of $8.33 billion, a P/E ratio of 3.18 and a beta of 3.24. APA has a fifty-two week low of $21.15 and a fifty-two week high of $37.82. 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 firm’s 50 day moving average price is $24.20 and its 200 day moving average price is $27.24.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 14.12%.

Institutional Trading of APA

Institutional investors and hedge funds have recently bought and sold shares of the business. Synovus Financial Corp increased its position in APA by 144.3% in the 3rd quarter. Synovus Financial Corp now owns 30,925 shares of the company’s stock valued at $756,000 after acquiring an additional 18,268 shares during the period. Tidal Investments LLC increased its holdings in shares of APA by 154.2% in the third quarter. Tidal Investments LLC now owns 62,400 shares of the company’s stock valued at $1,526,000 after purchasing an additional 37,855 shares during the period. PVG Asset Management Corp purchased a new stake in shares of APA during the third quarter worth approximately $757,000. Sanctuary Advisors LLC raised its stake in shares of APA by 23.0% during the third quarter. Sanctuary Advisors LLC now owns 11,678 shares of the company’s stock worth $266,000 after purchasing an additional 2,185 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its position 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 buying an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.