Larson Financial Group LLC Grows Stake in APA Co. (NASDAQ:APA)

Larson Financial Group LLC lifted its position in APA Co. (NASDAQ:APA) by 37.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,064 shares of the company’s stock after buying an additional 1,383 shares during the period. Larson Financial Group LLC’s holdings in APA were worth $117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB purchased a new position in APA during the fourth quarter valued at $3,486,000. PNC Financial Services Group Inc. lifted its position in APA by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 76,174 shares of the company’s stock valued at $1,759,000 after purchasing an additional 1,797 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in APA during the fourth quarter valued at $655,000. Pacific Heights Asset Management LLC lifted its position in APA by 38.9% during the fourth quarter. Pacific Heights Asset Management LLC now owns 250,000 shares of the company’s stock valued at $5,772,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in APA during the fourth quarter valued at $14,524,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Performance

Shares of NASDAQ:APA opened at $19.20 on Wednesday. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 2.71 and a beta of 3.26. APA Co. has a 52 week low of $17.66 and a 52 week high of $36.05. 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 firm has a 50 day moving average of $22.52 and a 200 day moving average of $23.49.

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

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is presently 44.25%.

Insider Transactions at APA

In other news, Director Juliet S. Ellis bought 4,391 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now directly owns 12,436 shares in the company, valued at approximately $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on APA shares. Raymond James downgraded APA from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $45.00 to $32.00 in a research report on Monday. Citigroup decreased their price target on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Piper Sandler reduced their target price on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 target price on shares of APA in a report on Thursday, January 23rd. Finally, Mizuho reduced their target price on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday, December 16th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, APA presently has a consensus rating of “Hold” and a consensus price target of $29.15.

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.