APA (NASDAQ:APA) Trading Down 6.6% - Here's Why

APA Corporation (NASDAQ:APA - Get Free Report)'s stock price traded down 6.6% on Monday . The stock traded as low as $18.73 and last traded at $18.66. 9,394,400 shares traded hands during trading, an increase of 31% from the average session volume of 7,145,788 shares. The stock had previously closed at $19.97.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APA. Mizuho reduced their price target on APA from $20.00 to $19.00 and set an "underperform" rating for the company in a research note on Tuesday, May 13th. The Goldman Sachs Group reissued a "sell" rating and issued a $23.00 target price on shares of APA in a research report on Wednesday, March 19th. Citigroup raised their price target on shares of APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Piper Sandler cut their price objective on shares of APA from $22.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Argus raised shares of APA to a "hold" rating in a report on Friday, May 16th. Three 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $24.72.

APA Stock Performance

The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 6.31 and a beta of 1.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. The stock's 50-day moving average is $17.37 and its 200-day moving average is $19.98.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. On average, analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Tuesday, July 22nd. APA's dividend payout ratio (DPR) is currently 35.97%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its stake in shares of APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock valued at $27,000 after buying an additional 1,077 shares during the period. Riverview Trust Co boosted its stake in shares of APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company's stock valued at $30,000 after purchasing an additional 1,258 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after buying an additional 1,382 shares during the period. Rakuten Securities Inc. increased its position in shares of APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after buying an additional 1,288 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in APA during the fourth quarter worth $35,000. 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.

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