Citigroup Cuts APA (NASDAQ:APA) Price Target to $15.00

APA (NASDAQ:APA) had its price objective reduced by Citigroup from $20.00 to $15.00 in a report published on Wednesday morning, Marketbeat reports. They currently have a neutral rating on the stock.

APA has been the subject of several other research reports. Piper Sandler decreased their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Scotiabank decreased their price objective on APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. cut their target price on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley set a $20.00 price target on APA and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Royal Bank of Canada cut their price objective on shares of APA from $27.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.21.

APA Stock Performance

Shares of APA stock opened at $16.12 on Wednesday. The company has a market cap of $5.83 billion, a P/E ratio of 2.28 and a beta of 2.74. The business has a 50 day moving average of $19.41 and a two-hundred day moving average of $21.98. APA has a 52 week low of $13.58 and a 52 week high of $33.41. 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 (NASDAQ:APA) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. As a group, analysts anticipate that APA will post 4.03 EPS for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 6.20%. APA’s dividend payout ratio (DPR) is 44.25%.

Institutional Investors Weigh In On APA

Several large investors have recently modified their holdings of APA. Rakuten Securities Inc. raised its position in shares of APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock worth $32,000 after purchasing an additional 1,288 shares during the period. QRG Capital Management Inc. purchased a new position in APA in the 1st quarter worth about $238,000. Murphy Pohlad Asset Management LLC raised its holdings in APA by 1.7% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 100,148 shares of the company’s stock worth $2,105,000 after buying an additional 1,700 shares during the period. Albert D Mason Inc. boosted its holdings in shares of APA by 5.7% in the first quarter. Albert D Mason Inc. now owns 12,261 shares of the company’s stock worth $258,000 after buying an additional 657 shares during the period. Finally, Greenwood Capital Associates LLC increased its position in shares of APA by 2.7% in the first quarter. Greenwood Capital Associates LLC now owns 28,107 shares of the company’s stock worth $591,000 after acquiring an additional 730 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.