Citigroup Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective lowered by Citigroup from $20.00 to $15.00 in a research report released on Wednesday morning, MarketBeat Ratings reports. Citigroup currently has a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on APA. Barclays cut their price objective on shares of APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Morgan Stanley set a $20.00 price target on shares of APA and gave the stock an “underweight” rating in a research report on Tuesday. Scotiabank decreased their price objective on shares of APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Susquehanna dropped their target price on APA from $33.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, March 3rd. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $23.00 price target on shares of APA in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.21.

APA Price Performance

NASDAQ APA opened at $15.37 on Wednesday. The company has a 50-day moving average price of $19.69 and a two-hundred day moving average price of $22.10. APA has a 52 week low of $13.58 and a 52 week high of $33.41. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 2.17 and a beta of 2.74. 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 (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. Analysts forecast that APA will post 4.03 EPS for the current year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio is presently 44.25%.

Institutional Investors Weigh In On APA

A number of large investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. raised its stake in APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after purchasing an additional 1,077 shares during the period. Riverview Trust Co grew its holdings in shares of APA by 5,718.2% during the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after buying an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of APA by 77.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after buying an additional 586 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in APA during the fourth quarter valued at $35,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in APA by 93.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after acquiring an additional 780 shares in the last quarter. Institutional investors and hedge funds 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.