Pinnacle Associates Ltd. grew its position in APA Co. (NASDAQ:APA – Free Report) by 36.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,054 shares of the company’s stock after buying an additional 1,602 shares during the period. Pinnacle Associates Ltd.’s holdings in APA were worth $218,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its position in shares of APA by 5.9% in the 1st quarter. CWM LLC now owns 6,144 shares of the company’s stock worth $222,000 after purchasing an additional 340 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of APA by 86.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 16,535 shares of the company’s stock worth $596,000 after purchasing an additional 7,664 shares during the last quarter. Xponance Inc. boosted its position in shares of APA by 116.1% in the 1st quarter. Xponance Inc. now owns 87,281 shares of the company’s stock worth $3,147,000 after purchasing an additional 46,885 shares during the last quarter. Clear Street Markets LLC boosted its position in shares of APA by 7,035.5% in the 4th quarter. Clear Street Markets LLC now owns 4,424 shares of the company’s stock worth $207,000 after purchasing an additional 4,362 shares during the last quarter. Finally, US Asset Management LLC bought a new position in shares of APA in the 4th quarter worth $331,000. 80.67% of the stock is owned by institutional investors and hedge funds.
APA Stock Performance
Shares of APA stock opened at $42.17 on Tuesday. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 9.08 and a beta of 3.53. The stock’s 50-day moving average is $35.65 and its 200-day moving average is $35.90. APA Co. has a one year low of $30.67 and a one year high of $50.58. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.99 and a quick ratio of 0.99.
APA Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Friday, July 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, July 20th. APA’s dividend payout ratio is currently 21.41%.
Analysts Set New Price Targets
Several research firms have recently issued reports on APA. The Goldman Sachs Group lowered APA from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a research report on Wednesday, July 12th. VNET Group reiterated a “maintains” rating on shares of APA in a report on Wednesday, June 14th. StockNews.com began coverage on APA in a report on Thursday, May 18th. They set a “hold” rating on the stock. Benchmark began coverage on APA in a report on Wednesday, July 12th. They set a “buy” rating and a $46.00 target price on the stock. Finally, Bank of America reduced their target price on APA from $60.00 to $57.00 in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, APA has an average rating of “Hold” and a consensus target price of $45.53.
Read Our Latest Stock Report on APA
APA Profile
APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.
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