Intech Investment Management LLC Takes Position in APA Co. (NASDAQ:APA)

Intech Investment Management LLC bought a new position in shares of APA Co. (NASDAQ:APA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,542 shares of the company’s stock, valued at approximately $1,005,000.

Several other large investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in APA by 0.6% during the fourth quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock worth $1,780,000 after buying an additional 469 shares during the period. TD Private Client Wealth LLC lifted its position in APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares during the period. Asset Management One Co. Ltd. increased its stake in APA by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock worth $3,070,000 after acquiring an additional 544 shares during the last quarter. Segment Wealth Management LLC increased its stake in APA by 1.1% during the fourth quarter. Segment Wealth Management LLC now owns 54,938 shares of the company’s stock worth $1,269,000 after acquiring an additional 571 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in APA by 77.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after acquiring an additional 586 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Trading Up 0.2 %

NASDAQ:APA opened at $20.61 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average is $21.97 and its two-hundred day moving average is $23.06. APA Co. has a 52 week low of $17.66 and a 52 week high of $36.05. The company has a market cap of $7.50 billion, a PE ratio of 2.91 and a beta of 3.26.

APA (NASDAQ:APA) last released its earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.31 billion. On average, analysts predict that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio is presently 44.25%.

Analysts Set New Price Targets

APA has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Piper Sandler dropped their price target on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Raymond James lowered APA from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $45.00 to $32.00 in a research note on Monday, March 10th. Susquehanna lowered their target price on APA from $33.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, March 3rd. Finally, UBS Group lowered their target price on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.60.

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.