APA Co. (NASDAQ:APA - Get Free Report) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 20,460,000 shares, an increase of 7.5% from the November 15th total of 19,030,000 shares. Based on an average daily trading volume, of 6,440,000 shares, the days-to-cover ratio is currently 3.2 days. Currently, 5.7% of the company's shares are short sold.
Insider Buying and Selling
In other APA news, Director Juliet S. Ellis bought 4,391 shares of APA stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the purchase, the director now owns 12,436 shares of the company's stock, valued at approximately $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.
Institutional Investors Weigh In On APA
Large investors have recently made changes to their positions in the company. Harris Associates L P raised its holdings in APA by 20.8% in the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company's stock worth $609,414,000 after purchasing an additional 4,293,932 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company's stock worth $745,341,000 after buying an additional 3,411,270 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 buying an additional 2,736,041 shares during the period. Mizuho Securities USA LLC lifted its position in shares of APA by 3,450.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company's stock valued at $24,115,000 after buying an additional 958,141 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of APA by 112.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company's stock valued at $42,092,000 after acquiring an additional 767,557 shares during the period. 83.01% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Evercore ISI decreased their price objective 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. The Goldman Sachs Group lowered their target price on shares of APA from $26.00 to $25.00 in a report on Friday, October 18th. Bernstein Bank reduced their price objective on APA from $30.00 to $28.00 in a research report on Friday, October 18th. UBS Group dropped their target price on APA from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. cut their target price on APA from $29.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $32.52.
Check Out Our Latest Research Report on APA
APA Stock Performance
Shares of NASDAQ APA traded down $0.08 during midday trading on Friday, hitting $22.86. 4,064,586 shares of the stock traded hands, compared to its average volume of 6,271,859. The firm has a market capitalization of $8.46 billion, a P/E ratio of 3.23 and a beta of 3.18. APA has a one year low of $20.95 and a one year high of $37.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50-day moving average of $23.51 and a two-hundred day moving average of $26.56.
APA Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 4.37%. APA's payout ratio is 14.12%.
About APA
(
Get Free Report)
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.
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