APA (NASDAQ:APA) Stock Price Down 4.6% – What’s Next?

Shares of APA Co. (NASDAQ:APA) traded down 4.6% on Wednesday . The stock traded as low as $17.98 and last traded at $17.72. 823,923 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 7,757,566 shares. The stock had previously closed at $18.57.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Truist Financial lowered their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Susquehanna reduced their price target on APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday. Piper Sandler lowered their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. reduced their target price on APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, APA currently has an average rating of “Hold” and an average price target of $29.80.

APA Stock Performance

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 has a market capitalization of $7.16 billion, a price-to-earnings ratio of 2.74 and a beta of 3.26. The company has a 50-day moving average price of $22.73 and a 200-day moving average price of $23.75.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.31 billion. As a group, equities research analysts forecast that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.16%. APA’s payout ratio is currently 44.25%.

Insider Buying and Selling

In related news, Director Juliet S. Ellis bought 4,391 shares of APA stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the acquisition, the director now directly owns 12,436 shares in the company, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Institutional Trading of APA

A number of hedge funds have recently modified their holdings of APA. Brown Brothers Harriman & Co. lifted its stake in APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after acquiring an additional 1,077 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares during the period. Riverview Trust Co grew its position in APA by 5,718.2% during the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after purchasing an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after buying an additional 586 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of APA during the 4th quarter valued at $35,000. 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.