Interval Partners LP Takes $5.43 Million Position in APA Co. (NASDAQ:APA)

Interval Partners LP bought a new position in APA Co. (NASDAQ:APA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 184,304 shares of the company’s stock, valued at approximately $5,426,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after buying an additional 2,004,555 shares in the last quarter. Wealthquest Corp boosted its stake in APA by 21.7% in the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock worth $5,533,000 after purchasing an additional 27,513 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of APA by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock worth $66,093,000 after purchasing an additional 345,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after buying an additional 1,938,335 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in shares of APA by 18.5% in the first quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after buying an additional 7,580 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Ratings Changes

APA has been the subject of several research reports. Evercore ISI restated an “in-line” rating and issued a $39.00 price objective on shares of APA in a research report on Thursday, September 12th. Truist Financial upped their price objective on APA from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays reissued an “equal weight” rating and issued a $35.00 target price on shares of APA in a research note on Wednesday, September 11th. JPMorgan Chase & Co. cut their price target on APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, Wolfe Research started coverage on shares of APA in a research note on Thursday, July 18th. They issued an “outperform” rating and a $42.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, APA presently has an average rating of “Hold” and an average target price of $36.38.

APA Stock Performance

Shares of APA stock opened at $25.44 on Tuesday. The stock has a market cap of $9.44 billion, a P/E ratio of 2.85 and a beta of 3.24. The company has a fifty day moving average price of $28.17 and a two-hundred day moving average price of $30.05. APA Co. has a one year low of $22.72 and a one year high of $43.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. As a group, equities analysts predict that APA Co. will post 4.34 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.93%. APA’s dividend payout ratio (DPR) is currently 11.19%.

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.