APA (NASDAQ:APA) Sees Unusually-High Trading Volume – Time to Buy?

Shares of APA Co. (NASDAQ:APA) saw an uptick in trading volume on Monday . 8,296,628 shares changed hands during trading, an increase of 31% from the previous session’s volume of 6,311,505 shares.The stock last traded at $21.30 and had previously closed at $21.04.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial lowered their price objective on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Citigroup cut their target price on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Wells Fargo & Company downgraded shares of APA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $42.00 to $25.00 in a report on Tuesday, December 17th. UBS Group lowered their target price on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Piper Sandler decreased their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, APA currently has a consensus rating of “Hold” and a consensus price target of $31.14.

APA Stock Performance

The company has a 50-day moving average of $22.78 and a 200 day moving average of $26.16. The firm has a market capitalization of $8.09 billion, a PE ratio of 3.09 and a beta of 3.19. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Wednesday, January 22nd. APA’s dividend payout ratio (DPR) is 14.12%.

Insider Buying and Selling at APA

In other news, Director Juliet S. Ellis purchased 4,391 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of $22.78 per share, with a total value of $100,026.98. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On APA

A number of hedge funds have recently made changes to their positions in APA. TD Private Client Wealth LLC raised 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 worth $29,000 after purchasing an additional 540 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after acquiring an additional 1,079 shares during the last quarter. Rothschild Investment LLC purchased a new stake in APA during the 2nd quarter valued at about $42,000. Huntington National Bank increased its stake in APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares during the period. Finally, Blue Trust Inc. lifted its position in APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after purchasing an additional 1,604 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

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.