Malaga Cove Capital LLC Invests $460,000 in APA Co. (NASDAQ:APA)

Malaga Cove Capital LLC bought a new stake in APA Co. (NASDAQ:APA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,803 shares of the company’s stock, valued at approximately $460,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of APA in the second quarter worth about $42,000. GPS Wealth Strategies Group LLC grew its stake in shares of APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after buying an additional 1,590 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new position in APA during the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Up 4.9 %

NASDAQ:APA opened at $24.73 on Thursday. APA Co. has a 12-month low of $22.72 and a 12-month high of $38.65. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $25.22 and a 200 day simple moving average of $28.16. The firm has a market capitalization of $9.15 billion, a P/E ratio of 2.70 and a beta of 3.24.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.03). The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.27 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. Equities research analysts predict that APA Co. will post 4.01 EPS for the current year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 10.91%.

Analyst Ratings Changes

A number of analysts have recently issued reports on APA shares. Bernstein Bank dropped their price objective on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price target on shares of APA in a research note on Tuesday, September 17th. Evercore ISI decreased their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Truist Financial lifted their target price on APA from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group reduced their price target on APA from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, APA has a consensus rating of “Hold” and an average target price of $34.18.

APA 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.