APA Co. (NASDAQ:APA) Sees Significant Decline in Short Interest

APA Co. (NASDAQ:APA) saw a large decrease in short interest in January. As of January 15th, there was short interest totalling 22,260,000 shares, a decrease of 7.4% from the December 31st total of 24,050,000 shares. Currently, 6.2% of the company’s shares are sold short. Based on an average daily trading volume, of 6,270,000 shares, the days-to-cover ratio is currently 3.6 days.

Insider Buying and Selling at APA

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the acquisition, the director now owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On APA

Institutional investors have recently made changes to their positions in the stock. TD Private Client Wealth LLC raised its holdings in shares of APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after acquiring an additional 540 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of APA by 77.9% in 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. MassMutual Private Wealth & Trust FSB raised its holdings in shares of APA by 93.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after acquiring an additional 780 shares during the last quarter. Huntington National Bank grew its position in shares of APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after purchasing an additional 561 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of APA by 596.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,124 shares of the company’s stock valued at $49,000 after purchasing an additional 1,819 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Price Performance

Shares of APA stock traded down $0.26 during trading on Monday, reaching $21.67. The company’s stock had a trading volume of 2,412,238 shares, compared to its average volume of 6,440,986. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 12-month low of $20.32 and a 12-month high of $36.04. The company has a market capitalization of $8.02 billion, a P/E ratio of 3.07 and a beta of 3.15. The business has a 50 day moving average price of $22.83 and a 200-day moving average price of $25.02.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 4.61%. APA’s dividend payout ratio is presently 14.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on APA shares. Citigroup decreased their target price on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $32.00 target price on shares of APA in a research note on Thursday, January 23rd. Wells Fargo & Company lowered APA from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Truist Financial reduced their price target on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Barclays reduced their price target on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.65.

About APA

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.