Raymond James Financial Inc. Invests $14.52 Million in APA Co. (NASDAQ:APA)

Raymond James Financial Inc. bought a new position in APA Co. (NASDAQ:APA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 629,004 shares of the company’s stock, valued at approximately $14,524,000. Raymond James Financial Inc. owned approximately 0.17% of APA at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APA. Arizona State Retirement System boosted its holdings in shares of APA by 1.0% in the 4th quarter. Arizona State Retirement System now owns 107,417 shares of the company’s stock worth $2,480,000 after buying an additional 1,071 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of APA in the 4th quarter worth about $1,442,000. Atria Investments Inc boosted its holdings in shares of APA by 1.9% in the 4th quarter. Atria Investments Inc now owns 56,545 shares of the company’s stock worth $1,306,000 after buying an additional 1,065 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of APA by 12.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,415,364 shares of the company’s stock worth $32,681,000 after buying an additional 154,040 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of APA by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock worth $297,540,000 after buying an additional 894,574 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Up 0.7 %

APA stock opened at $20.17 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average is $22.15 and its 200 day moving average is $23.17. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 2.85 and a beta of 3.26. APA Co. has a 1-year low of $17.66 and a 1-year high of $36.05.

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

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is 44.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of 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 set a $32.00 price objective on shares of APA in a report on Thursday, January 23rd. Citigroup dropped their price objective on shares of APA from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday. Barclays dropped their price objective on shares of APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.60.

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.