Schechter Investment Advisors LLC Invests $203,000 in APA Co. (NASDAQ:APA)

Posted by Defense World Staff on Jun 11th, 2023

Schechter Investment Advisors LLC purchased a new position in shares of APA Co. (NASDAQ:APA – Get Rating) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,349 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also modified their holdings of the stock. Northern Trust Corp boosted its position in shares of APA by 6.7% in the first quarter. Northern Trust Corp now owns 3,655,854 shares of the company’s stock worth $151,097,000 after acquiring an additional 229,516 shares during the last quarter. LSV Asset Management boosted its position in shares of APA by 82.6% in the fourth quarter. LSV Asset Management now owns 3,337,722 shares of the company’s stock worth $155,805,000 after acquiring an additional 1,509,555 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of APA by 191.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,248 shares of the company’s stock worth $129,952,000 after acquiring an additional 2,064,022 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of APA by 91.3% in the third quarter. Point72 Asset Management L.P. now owns 3,102,505 shares of the company’s stock worth $106,075,000 after acquiring an additional 1,481,009 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of APA by 11.0% in the fourth quarter. First Trust Advisors LP now owns 3,044,919 shares of the company’s stock worth $142,129,000 after acquiring an additional 301,695 shares during the last quarter. 80.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APA has been the topic of several research analyst reports. UBS Group began coverage on shares of APA in a research report on Wednesday, April 19th. They issued a “neutral” rating and a $45.00 target price on the stock. Truist Financial reduced their price target on shares of APA from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, April 10th. Bank of America reduced their price target on shares of APA from $60.00 to $57.00 in a research report on Thursday, May 4th. TheStreet raised shares of APA from a “c” rating to a “b-” rating in a research report on Thursday, February 23rd. Finally, Piper Sandler reduced their price target on shares of APA from $45.00 to $39.00 in a research report on Thursday, May 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.88.

APA Trading Down 1.7 %

APA opened at $33.41 on Friday. The stock has a market capitalization of $10.31 billion, a PE ratio of 5.43, a P/E/G ratio of 6.06 and a beta of 3.54. The firm’s fifty day moving average price is $34.19 and its 200 day moving average price is $38.01. The company has a debt-to-equity ratio of 4.04, a current ratio of 1.11 and a quick ratio of 1.11. APA Co. has a 12-month low of $30.15 and a 12-month high of $50.58.

APA (NASDAQ:APA – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.21. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.84 billion. APA had a net margin of 19.72% and a return on equity of 158.38%. The firm’s quarterly revenue was down 47.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share. As a group, research analysts expect that APA Co. will post 4.71 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.99%. APA’s dividend payout ratio (DPR) is 16.26%.

About APA

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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.