Payden & Rygel Takes Position in APA Co. (NASDAQ:APA)

Payden & Rygel 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 49,500 shares of the company’s stock, valued at approximately $1,143,000.

A number of other hedge funds have also recently added to or reduced their stakes in APA. Brown Brothers Harriman & Co. increased its holdings in shares of APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after buying an additional 1,077 shares during the last quarter. TD Private Client Wealth LLC increased its stake 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 acquiring an additional 540 shares during the last quarter. Riverview Trust Co raised its holdings in shares of APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after purchasing an additional 586 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of APA during the 4th quarter worth about $35,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

Shares of APA stock opened at $15.18 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a 1 year low of $14.86 and a 1 year high of $36.05. The firm’s 50-day simple moving average is $21.14 and its 200-day simple moving average is $22.75. The firm has a market cap of $5.53 billion, a PE ratio of 2.14 and a beta of 2.73.

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. Equities analysts forecast that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 6.59%. APA’s payout ratio is 44.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler reduced their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. UBS Group reduced their target price on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Citigroup lowered their price target on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Susquehanna reduced their price objective on APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, March 3rd. Finally, Morgan Stanley set a $22.00 target price on APA and gave the company an “underweight” rating in a research note on Wednesday, March 26th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.68.

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.