APA (NASDAQ:APA) Given New $33.00 Price Target at Truist Financial

APA (NASDAQ:APA) had its target price cut by Truist Financial from $36.00 to $33.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price target on shares of APA in a research report on Tuesday, September 17th. Evercore ISI reduced their target price on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Scotiabank reduced their target price on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company reduced their target price on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Susquehanna reduced their target price on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $33.91.

APA Stock Down 0.7 %

Shares of NASDAQ:APA traded down $0.16 during trading on Friday, hitting $21.77. 11,740,013 shares of the company were exchanged, compared to its average volume of 6,244,942. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 2.37 and a beta of 3.24. APA has a fifty-two week low of $21.15 and a fifty-two week high of $38.27. The firm has a fifty day moving average price of $24.94 and a two-hundred day moving average price of $28.04. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.59%. APA’s payout ratio is 10.91%.

Hedge Funds Weigh In On APA

A number of institutional investors and hedge funds have recently bought and sold shares of APA. Dimensional Fund Advisors LP increased its stake in shares of APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after buying an additional 2,736,041 shares during the period. Vanguard Group Inc. increased its stake in shares of APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after buying an additional 2,004,555 shares during the period. Mizuho Securities USA LLC increased its stake in shares of APA by 3,450.8% in the third quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock valued at $24,115,000 after buying an additional 958,141 shares during the period. Webs Creek Capital Management LP acquired a new stake in shares of APA in the first quarter valued at about $28,593,000. Finally, AQR Capital Management LLC increased its stake in shares of APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after buying an additional 767,557 shares during the period. 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.