APA (NASDAQ:APA) Downgraded by Wells Fargo & Company to “Equal Weight”

Wells Fargo & Company cut shares of APA (NASDAQ:APA) from an overweight rating to an equal weight rating in a report published on Tuesday morning, MarketBeat.com reports. The firm currently has $25.00 price objective on the stock, down from their previous price objective of $42.00.

Other equities analysts have also issued reports about the company. Truist Financial decreased their price objective on APA from $36.00 to $33.00 and set a “buy” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Barclays cut their price objective on shares of APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, November 8th. UBS Group decreased their target price on shares of APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Royal Bank of Canada dropped their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.14.

APA Trading Down 1.7 %

APA stock opened at $20.48 on Tuesday. APA has a 52-week low of $20.32 and a 52-week high of $37.82. 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 $7.58 billion, a price-to-earnings ratio of 2.89 and a beta of 3.18. The firm has a 50-day moving average price of $23.07 and a two-hundred day moving average price of $26.36.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s payout ratio is 14.12%.

Insider Activity

In other news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now owns 12,436 shares of the company’s stock, 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 SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of APA

Large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its stake in APA by 84.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the period. Rothschild Investment LLC purchased a new position in APA during the second quarter valued at approximately $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 valued at $42,000 after buying an additional 561 shares during the period. Finally, Blue Trust Inc. lifted its position in APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after buying an additional 1,604 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

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.