APA (NASDAQ:APA) Reaches New 52-Week Low – Time to Sell?

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on APA. Susquehanna cut their price objective on APA from $33.00 to $31.00 and set a “positive” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group reissued a “sell” rating and issued a $23.00 price target on shares of APA in a research note on Wednesday, March 19th. Morgan Stanley set a $22.00 price target on shares of APA and gave the stock an “underweight” rating in a report on Wednesday, March 26th. Mizuho dropped their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company cut their target price on shares of APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, APA has an average rating of “Hold” and a consensus price target of $27.68.

APA Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm’s fifty day moving average price is $21.14 and its 200-day moving average price is $22.74. The stock has a market cap of $5.53 billion, a P/E ratio of 2.14 and a beta of 2.73.

APA (NASDAQ:APA) last announced its quarterly 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). APA had a net margin of 24.36% and a return on equity of 27.86%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Analysts forecast 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. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 6.59%. APA’s dividend payout ratio is presently 44.25%.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC raised its holdings in shares of APA by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 113,913 shares of the company’s stock valued at $2,630,000 after acquiring an additional 449 shares in the last quarter. Van ECK Associates Corp increased its position in APA by 0.6% during the 4th quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock valued at $1,780,000 after purchasing an additional 469 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in APA by 1.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company’s stock worth $1,018,000 after purchasing an additional 517 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of APA by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock valued at $3,070,000 after purchasing an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.