International Assets Investment Management LLC Purchases New Stake in APA Co. (NASDAQ:APA)

International Assets Investment Management LLC purchased a new stake in APA Co. (NASDAQ:APA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,810 shares of the company’s stock, valued at approximately $11,210,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after acquiring an additional 2,004,555 shares during the period. Dimensional Fund Advisors LP grew its position in APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares during the period. Bank of New York Mellon Corp grew its position in APA by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after acquiring an additional 455,312 shares during the period. LSV Asset Management grew its position in APA by 4.9% in the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock worth $81,193,000 after acquiring an additional 129,841 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its position in APA by 1.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 1,451,439 shares of the company’s stock worth $42,730,000 after acquiring an additional 16,287 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Up 0.7 %

Shares of NASDAQ APA opened at $23.47 on Thursday. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 2.63 and a beta of 3.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average of $25.70 and a two-hundred day moving average of $28.47. APA Co. has a 1 year low of $22.72 and a 1 year high of $40.93.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share 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 business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the business earned $0.85 EPS. The business’s quarterly revenue was up 41.6% on a year-over-year basis. On average, analysts forecast that APA Co. will post 3.97 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is currently 11.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on APA shares. Piper Sandler lowered their price target on APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. UBS Group lowered their price target on APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price target on shares of APA in a research report on Tuesday, September 17th. Scotiabank lowered their price target on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Susquehanna lowered their price target on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, APA currently has an average rating of “Hold” and an average target price of $34.18.

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.