3,615 Shares in APA Co. (NASDAQ:APA) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC acquired a new position in APA Co. (NASDAQ:APA) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,615 shares of the company’s stock, valued at approximately $88,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of APA during the second quarter worth approximately $42,000. GPS Wealth Strategies Group LLC grew its position in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after buying an additional 1,590 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new position in APA in the second quarter worth about $57,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Price Performance

Shares of APA stock opened at $25.18 on Wednesday. APA Co. has a 52 week low of $22.72 and a 52 week high of $41.86. The stock’s fifty day moving average is $26.35 and its 200-day moving average is $28.95. 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 stock has a market capitalization of $9.35 billion, a PE ratio of 2.82 and a beta of 3.23.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business posted $0.85 earnings per share. APA’s revenue for the quarter was up 41.6% compared to the same quarter last year. Equities research analysts expect that APA Co. will post 3.97 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio is 11.19%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APA shares. Barclays cut their price objective on APA from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 target price on shares of APA in a research note on Tuesday, September 17th. Wells Fargo & Company cut their price target on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Wolfe Research assumed coverage on APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, The Goldman Sachs Group cut their target price on APA from $26.00 to $25.00 in a research note on Friday, October 18th. Four equities 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.