Royal Bank of Canada Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective decreased by Royal Bank of Canada from $34.00 to $32.00 in a research note published on Monday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research analysts have also issued reports on APA. Sanford C. Bernstein lowered their target price on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on APA in a research report on Thursday, July 18th. They set an “outperform” rating and a $42.00 price objective for the company. The Goldman Sachs Group reduced their target price on APA from $26.00 to $25.00 in a report on Friday, October 18th. Barclays lowered their price target on shares of APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, November 8th. Finally, Evercore ISI dropped their price objective on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, APA currently has a consensus rating of “Hold” and a consensus target price of $32.95.

APA Trading Up 0.7 %

APA opened at $22.02 on Monday. The company’s 50 day moving average price is $24.64 and its two-hundred day moving average price is $27.80. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 3.11 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 company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio is currently 14.12%.

Institutional Investors Weigh In On APA

A number of institutional investors and hedge funds have recently bought and sold shares of APA. Covestor Ltd lifted its holdings in APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings 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 worth $40,000 after buying an additional 1,079 shares during the last quarter. Rothschild Investment LLC bought a new position in APA during the second quarter valued at about $42,000. GPS Wealth Strategies Group LLC increased its holdings in APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after buying an additional 1,590 shares during the last quarter. Finally, Huntington National Bank raised its position in APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares during the period. 83.01% of the stock is owned by hedge funds and other 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.