Sanctuary Advisors LLC Invests $308,000 in APA Co. (NASDAQ:APA)

Sanctuary Advisors LLC bought a new stake in shares of APA Co. (NASDAQ:APA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,493 shares of the company’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of APA by 4.7% during the first 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in APA by 131.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after acquiring an additional 2,736,041 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after acquiring an additional 455,312 shares during the last quarter. LSV Asset Management lifted its stake in APA by 4.9% in the 2nd quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock worth $81,193,000 after purchasing an additional 129,841 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of APA by 1.1% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,451,439 shares of the company’s stock valued at $42,730,000 after purchasing an additional 16,287 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Price Performance

Shares of APA stock opened at $25.16 on Friday. The stock has a 50 day moving average price of $26.43 and a 200 day moving average price of $29.11. APA Co. has a 52-week low of $22.72 and a 52-week high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $9.34 billion, a P/E ratio of 2.81 and a beta of 3.23.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm’s revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS. As a group, sell-side analysts predict that APA Co. will post 3.97 earnings per share for the current year.

APA Announces Dividend

The company also recently disclosed 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 is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 3.97%. APA’s dividend payout ratio (DPR) is currently 11.19%.

Analysts Set New Price Targets

A number of research firms recently commented on APA. Susquehanna decreased their target price on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research report on Friday. Citigroup decreased their price objective on APA from $32.00 to $29.00 in a report on Friday. Evercore ISI cut their target price on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Truist Financial upped their price target on shares of APA from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group dropped their price objective on shares of APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.18.

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.