APA (NASDAQ:APA) Reaches New 52-Week Low – What’s Next?

APA Co. (NASDAQ:APA) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $17.66 and last traded at $18.54, with a volume of 14014160 shares trading hands. The stock had previously closed at $18.57.

Wall Street Analyst Weigh In

APA has been the subject of a number of recent analyst reports. Wells Fargo & Company cut APA from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $42.00 to $25.00 in a research report on Tuesday, December 17th. Citigroup cut their price objective on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of APA in a research report on Thursday, January 23rd. Piper Sandler cut their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. dropped their price target on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, APA has a consensus rating of “Hold” and a consensus target price of $29.80.

APA Stock Performance

The stock has a 50 day simple moving average of $22.73 and a 200 day simple moving average of $23.75. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a market cap of $6.97 billion, a P/E ratio of 2.66 and a beta of 3.26.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.31 billion. On average, equities analysts expect that APA Co. will post 4.03 earnings per share for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 5.31%. APA’s payout ratio is 44.25%.

Insider Activity

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Siemens Fonds Invest GmbH bought a new stake in APA during the 4th quarter worth $42,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in APA during the 4th quarter worth $1,721,000. Jefferies Financial Group Inc. grew its position in APA by 459.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 53,538 shares of the company’s stock worth $1,236,000 after acquiring an additional 43,974 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in APA during the 4th quarter worth $2,612,000. Finally, CTC Alternative Strategies Ltd. bought a new stake in APA during the 4th quarter worth $204,000. Institutional investors own 83.01% of the company’s stock.

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.