Jacobs Levy Equity Management Inc. Reduces Stock Position in APA Co. (NASDAQ:APA)

Jacobs Levy Equity Management Inc. lowered its stake in shares of APA Co. (NASDAQ:APA) by 40.3% during the 1st quarter, HoldingsChannel reports. The fund owned 94,448 shares of the company’s stock after selling 63,876 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in APA were worth $3,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. American National Bank increased its holdings in shares of APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the period. Rakuten Securities Inc. purchased a new stake in shares of APA during the fourth quarter worth about $34,000. Quent Capital LLC lifted its holdings in APA by 64.0% in the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after buying an additional 375 shares during the period. Principal Securities Inc. purchased a new stake in APA in the fourth quarter worth about $39,000. Finally, Covestor Ltd lifted its holdings in APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after buying an additional 470 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Stock Up 1.7 %

APA traded up $0.52 during trading on Wednesday, hitting $31.55. The stock had a trading volume of 1,851,196 shares, compared to its average volume of 6,240,929. The company has a market capitalization of $11.71 billion, a PE ratio of 3.47 and a beta of 3.26. APA Co. has a twelve month low of $27.17 and a twelve month high of $46.15. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a 50 day simple moving average of $29.65 and a two-hundred day simple moving average of $31.00.

APA (NASDAQ:APA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 EPS. On average, research analysts predict that APA Co. will post 4.17 earnings per share for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be issued a $0.25 dividend. The ex-dividend date is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.17%. APA’s dividend payout ratio is currently 11.19%.

Analyst Upgrades and Downgrades

APA has been the subject of several analyst reports. Roth Mkm raised their price target on shares of APA from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Truist Financial lowered their target price on shares of APA from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Barclays lowered their target price on shares of APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Susquehanna boosted their price target on shares of APA from $54.00 to $57.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. Finally, Citigroup decreased their target price on shares of APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus target price of $38.86.

APA Company Profile

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.