APA (NASDAQ:APA) Reaches New 52-Week High – Time to Buy?

Shares of APA Corporation (NASDAQ:APA) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.73 and last traded at $27.3310, with a volume of 149566 shares traded. The stock had previously closed at $27.46.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Capital One Financial cut their price objective on shares of APA from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. Morgan Stanley dropped their price target on APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Friday, January 23rd. Johnson Rice raised APA from a “hold” rating to an “accumulate” rating and upped their price objective for the stock from $35.00 to $40.00 in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of APA in a report on Monday, December 29th. Finally, Royal Bank Of Canada lifted their target price on APA from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.35.

APA Trading Up 1.0%

The company has a market cap of $9.84 billion, a P/E ratio of 6.67, a PEG ratio of 12.55 and a beta of 0.74. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $25.46 and a 200-day moving average price of $23.64.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA’s dividend payout ratio is presently 24.04%.

Hedge Funds Weigh In On APA

A number of institutional investors have recently bought and sold shares of APA. Coldstream Capital Management Inc. boosted its stake in shares of APA by 1.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after acquiring an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in APA by 3.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock valued at $358,000 after purchasing an additional 461 shares during the last quarter. Howard Capital Management Inc. boosted its position in APA by 0.5% during the third quarter. Howard Capital Management Inc. now owns 94,848 shares of the company’s stock worth $2,303,000 after purchasing an additional 485 shares during the period. one8zero8 LLC boosted its position in APA by 1.2% during the third quarter. one8zero8 LLC now owns 42,254 shares of the company’s stock worth $1,026,000 after purchasing an additional 488 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of APA by 0.5% in the third quarter. Arizona State Retirement System now owns 106,734 shares of the company’s stock valued at $2,592,000 after purchasing an additional 517 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.