The Goldman Sachs Group Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price trimmed by The Goldman Sachs Group from $25.00 to $22.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a sell rating on the stock.

Other research analysts have also recently issued research reports about the company. Susquehanna cut their target price on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Barclays decreased their target price on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Citigroup decreased their price objective on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Finally, Mizuho dropped their target price on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.55.

APA Trading Up 0.2 %

Shares of APA opened at $23.42 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a twelve month low of $20.32 and a twelve month high of $36.04. The company has a market cap of $8.66 billion, a P/E ratio of 3.31 and a beta of 3.16. The company’s fifty day simple moving average is $22.43 and its 200-day simple moving average is $25.82.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.27%. APA’s payout ratio is 14.12%.

Insider Transactions at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

A number of large investors have recently bought and sold shares of APA. Harris Associates L P lifted its position in APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after purchasing an additional 4,293,932 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after buying an additional 3,411,270 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in APA by 131.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares during the period. Mizuho Securities USA LLC raised its position in APA by 3,450.8% during the third quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock valued at $24,115,000 after acquiring an additional 958,141 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after acquiring an additional 767,557 shares during the period. Hedge funds and other 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.