APA (NASDAQ:APA) Hits New 52-Week Low on Analyst Downgrade

APA Co. (NASDAQ:APA)’s stock price reached a new 52-week low during trading on Tuesday after Wells Fargo & Company downgraded the stock from an overweight rating to an equal weight rating. Wells Fargo & Company now has a $25.00 price target on the stock, down from their previous price target of $42.00. APA traded as low as $20.58 and last traded at $20.69, with a volume of 2536462 shares traded. The stock had previously closed at $21.94.

A number of other equities research analysts also recently issued reports on APA. Citigroup decreased their price objective on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Mizuho lowered their price target on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday. Bernstein Bank cut their price objective on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of APA from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, Barclays dropped their price target on shares of APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, November 8th. Four equities 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 stock has a consensus rating of “Hold” and an average target price of $31.29.

Insider Transactions at APA

In related news, Director Juliet S. Ellis bought 4,391 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the purchase, the director now directly owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of APA

A number of institutional investors have recently modified their holdings of APA. TD Private Client Wealth LLC raised its position in shares of APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake 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 buying an additional 1,079 shares during the period. Rothschild Investment LLC purchased a new stake in shares of APA during the second quarter valued at $42,000. Huntington National Bank raised 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 acquiring an additional 561 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after acquiring an additional 1,604 shares during the period. 83.01% of the stock is currently owned by institutional investors.

APA Trading Down 5.7 %

The company has a 50 day simple moving average of $23.41 and a two-hundred day simple moving average of $26.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $7.65 billion, a PE ratio of 3.10 and a beta of 3.18.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Wednesday, January 22nd. APA’s dividend payout ratio is presently 14.12%.

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.