APA (NASDAQ:APA) Trading Up 5.2% – Here’s What Happened

Shares of APA Co. (NASDAQ:APA) shot up 5.2% on Wednesday . The company traded as high as $15.71 and last traded at $15.66. 2,408,928 shares were traded during trading, a decline of 64% from the average session volume of 6,757,648 shares. The stock had previously closed at $14.89.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on APA. Morgan Stanley set a $20.00 price target on APA and gave the company an “underweight” rating in a report on Tuesday. JPMorgan Chase & Co. cut their target price 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. Scotiabank lowered their price target on shares of APA from $26.00 to $14.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Susquehanna reduced 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. Finally, Citigroup dropped their price target on APA from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, APA has an average rating of “Hold” and an average target price of $26.21.

APA Price Performance

The business has a 50-day moving average of $19.55 and a two-hundred day moving average of $22.04. 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 firm has a market cap of $5.83 billion, a P/E ratio of 2.28 and a beta of 2.74.

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

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.20%. APA’s dividend payout ratio (DPR) is presently 44.25%.

Institutional Trading of APA

Several institutional investors have recently added to or reduced their stakes in APA. Brown Brothers Harriman & Co. lifted its position in shares of 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. Riverview Trust Co raised its stake in APA by 5,718.2% during the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after buying an additional 1,258 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in APA by 77.9% in 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 during the period. Rakuten Securities Inc. grew its holdings in APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock worth $32,000 after acquiring an additional 1,288 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of APA in the 4th quarter worth about $35,000. 83.01% of the stock is currently owned by 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.