APA (NASDAQ:APA) Hits New 52-Week Low at $26.83

APA Co. (NASDAQ:APA) reached a new 52-week low during trading on Monday . The stock traded as low as $26.83 and last traded at $27.18, with a volume of 328277 shares trading hands. The stock had previously closed at $28.59.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APA. Piper Sandler lifted their target price on APA from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Mizuho lifted their target price on APA from $34.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, May 21st. Evercore ISI lowered APA from an “outperform” rating to an “inline” rating and reduced their price target for the stock from $52.00 to $39.00 in a research report on Friday, June 14th. Scotiabank reduced their price target on APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. raised their price target on APA from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $38.64.

APA Trading Up 2.1 %

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.16. The business has a 50-day moving average of $29.60 and a 200-day moving average of $30.93. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 3.03 and a beta of 3.26.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Research analysts anticipate that APA Co. will post 4.17 EPS for the current year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 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 3.61%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Institutional Trading of APA

Several institutional investors and hedge funds have recently bought and sold shares of the business. LSV Asset Management raised its stake in APA by 4.9% in the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock valued at $81,193,000 after buying an additional 129,841 shares during the period. Ellis Investment Partners LLC bought a new position in shares of APA during the second quarter worth approximately $2,499,000. Caprock Group LLC bought a new position in shares of APA during the second quarter worth approximately $310,000. Acadian Asset Management LLC bought a new position in shares of APA during the second quarter worth approximately $767,000. Finally, Arizona State Retirement System increased its stake in shares of APA by 22.1% during the second quarter. Arizona State Retirement System now owns 101,755 shares of the company’s stock worth $2,996,000 after purchasing an additional 18,400 shares during the period. Institutional investors own 83.01% of the company’s stock.

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.