APA (NASDAQ:APA) Reaches New 12-Month Low – Should You Sell?

APA Co. (NASDAQ:APA)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $14.86 and last traded at $15.46, with a volume of 5252151 shares. The stock had previously closed at $17.74.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on APA shares. Piper Sandler cut their target price on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. UBS Group cut their price objective on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Barclays lowered their target price on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. The Goldman Sachs Group restated a “sell” rating and set a $23.00 price target on shares of APA in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.68.

APA Trading Down 14.4 %

The firm has a fifty day moving average of $21.14 and a two-hundred day moving average of $22.74. The company has a market cap of $5.53 billion, a PE ratio of 2.14 and a beta of 2.73. 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 posted its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. As a group, sell-side analysts predict that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is currently 44.25%.

Hedge Funds Weigh In On APA

Several hedge funds have recently made changes to their positions in APA. Brown Brothers Harriman & Co. boosted its stake in APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after purchasing an additional 1,077 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares in the last quarter. Riverview Trust Co boosted its position in shares of APA by 5,718.2% in the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after acquiring an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB grew its stake in 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 acquiring an additional 586 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in APA during the 4th quarter worth approximately $35,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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.