APA Co. (NASDAQ:APA - Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 16,030,000 shares, a decrease of 15.5% from the October 15th total of 18,970,000 shares. Based on an average trading volume of 6,050,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 4.4% of the company's shares are sold short.
Institutional Trading of APA
Several institutional investors and hedge funds have recently made changes to their positions in APA. Vanguard Group Inc. increased its stake in APA by 4.7% in the 1st 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. Hotchkis & Wiley Capital Management LLC grew its holdings 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 valued at $745,341,000 after acquiring an additional 3,411,270 shares in the last quarter. Harris Associates L P increased its position in shares of APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company's stock valued at $609,414,000 after acquiring an additional 4,293,932 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company's stock worth $293,312,000 after acquiring an additional 485,291 shares during the period. Finally, Smead Capital Management Inc. increased its position in shares of APA by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company's stock valued at $236,466,000 after purchasing an additional 326,042 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.
Analyst Ratings Changes
APA has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price objective on APA from $34.00 to $32.00 and set a "sector perform" rating for the company in a report on Monday, November 11th. UBS Group decreased their price target on APA from $35.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, September 18th. Scotiabank cut their price objective on APA from $30.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Truist Financial lowered their price target on shares of APA from $36.00 to $33.00 and set a "buy" rating for the company in a report on Friday, November 8th. Finally, Mizuho reduced their price objective on shares of APA from $35.00 to $28.00 and set an "underperform" rating on the stock in a research note on Monday, September 16th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $32.95.
Read Our Latest Report on APA
APA Stock Down 1.0 %
Shares of APA stock traded down $0.22 on Friday, hitting $22.38. The company had a trading volume of 7,335,787 shares, compared to its average volume of 6,269,920. APA has a 1 year low of $21.15 and a 1 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 stock has a 50 day moving average of $24.51 and a 200-day moving average of $27.67. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 3.16 and a beta of 3.24.
APA Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Tuesday, October 22nd. APA's dividend payout ratio is 14.12%.
About APA
(
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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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