APA (NASDAQ:APA) Shares Gap Down – Time to Sell?

APA Co. (NASDAQ:APA) shares gapped down prior to trading on Monday . The stock had previously closed at $24.82, but opened at $23.80. APA shares last traded at $23.90, with a volume of 1,016,581 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wolfe Research began coverage on shares of APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 target price on the stock. Bernstein Bank decreased their target price on APA from $30.00 to $28.00 in a report on Friday, October 18th. Mizuho dropped their price target on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Susquehanna reduced their price target on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Finally, Piper Sandler reduced their price target on APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.18.

APA Trading Down 3.9 %

The company has a market capitalization of $8.85 billion, a P/E ratio of 2.78 and a beta of 3.23. 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 company’s fifty day simple moving average is $26.00 and its 200-day simple moving average is $28.65.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate 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 net margin of 32.66% and a return on equity of 35.95%. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Research analysts predict that APA Co. will post 3.97 earnings per share for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 11.19%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of APA by 386.7% in 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 in the last quarter. Rothschild Investment LLC bought a new position in APA during the 2nd quarter valued at $42,000. GPS Wealth Strategies Group LLC increased its position in shares of APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in APA during the 1st quarter valued at $59,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.