Wedbush Securities Inc. bought a new stake in APA Co. (NASDAQ:APA – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,228 shares of the company’s stock, valued at approximately $291,000.
Other large investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in shares of APA in the 3rd quarter valued at $273,000. Whittier Trust Co. of Nevada Inc. lifted its stake in APA by 110.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 561 shares of the company’s stock worth $26,000 after acquiring an additional 295 shares in the last quarter. Creative Capital Management Investments LLC acquired a new position in APA during the 4th quarter worth about $30,000. Lindbrook Capital LLC lifted its stake in APA by 47.3% during the 4th quarter. Lindbrook Capital LLC now owns 791 shares of the company’s stock worth $37,000 after acquiring an additional 254 shares in the last quarter. Finally, Core Alternative Capital lifted its stake in APA by 657.1% during the 3rd quarter. Core Alternative Capital now owns 795 shares of the company’s stock worth $27,000 after acquiring an additional 690 shares in the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Citigroup decreased their target price on APA from $57.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, March 23rd. Truist Financial decreased their target price on APA from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. TheStreet raised APA from a “c” rating to a “b-” rating in a research note on Thursday, February 23rd. Piper Sandler cut their price target on APA from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, March 7th. Finally, Morgan Stanley cut their price target on APA from $44.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, March 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.19.
APA Trading Down 3.2 %
APA (NASDAQ:APA – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.37 billion. APA had a return on equity of 198.44% and a net margin of 34.14%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. As a group, equities research analysts expect that APA Co. will post 5.95 EPS for the current fiscal year.
APA Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, May 22nd. Investors of record on Friday, April 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.53%. APA’s dividend payout ratio is presently 9.26%.
About APA
APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the United States, Egypt and the United Kingdom, and exploration activities offshore in Suriname. The company was founded in 1954 and is headquartered in Houston, TX.
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