APA (NASDAQ:APA) Reaches New 52-Week Low at $26.78

Shares of APA Co. (NASDAQ:APA) reached a new 52-week low during trading on Tuesday . The company traded as low as $26.78 and last traded at $26.88, with a volume of 3712085 shares. The stock had previously closed at $28.49.

Analyst Ratings Changes

A number of equities analysts recently commented on APA shares. Bank of America reaffirmed an “underperform” rating and set a $31.00 price target on shares of APA in a research note on Friday, June 14th. Truist Financial boosted their price objective on shares of APA from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Scotiabank lowered their price objective on shares of APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. StockNews.com cut shares of APA from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Sanford C. Bernstein lowered their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.81.

APA Stock Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $9.64 billion, a P/E ratio of 2.90 and a beta of 3.26. The firm’s 50 day moving average is $29.32 and its 200 day moving average is $30.53.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $0.85 EPS. APA’s revenue was up 41.6% on a year-over-year basis. Analysts anticipate that APA Co. will post 4.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APA. Vanguard Group Inc. boosted its holdings in shares of APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after acquiring an additional 2,004,555 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of APA by 10.6% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after acquiring an additional 1,938,335 shares during the last quarter. Harris Associates L P boosted its holdings in shares of APA by 17.8% in the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock valued at $563,520,000 after acquiring an additional 2,367,570 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of APA by 131.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after acquiring an additional 2,736,041 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after acquiring an additional 455,312 shares during the last quarter. Institutional investors and hedge funds 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.