APA Co. (NASDAQ:APA) Sees Large Decline in Short Interest

APA Co. (NASDAQ:APA - Get Free Report) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totalling 22,260,000 shares, a drop of 7.4% from the December 31st total of 24,050,000 shares. Based on an average trading volume of 6,270,000 shares, the short-interest ratio is presently 3.6 days. Approximately 6.2% of the company's stock are sold short.

APA Stock Down 0.7 %

NASDAQ APA traded down $0.17 during trading hours on Wednesday, hitting $22.23. 2,639,130 shares of the company were exchanged, compared to its average volume of 6,436,056. The company has a 50 day moving average of $22.80 and a two-hundred day moving average of $24.88. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 52-week low of $20.32 and a 52-week high of $36.04. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 3.14 and a beta of 3.15.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.50%. APA's payout ratio is currently 14.12%.

Analysts Set New Price Targets

A number of research firms have weighed in on APA. Susquehanna decreased their price objective on shares of APA from $52.00 to $48.00 and set a "positive" rating for the company in a research report on Friday, October 18th. The Goldman Sachs Group cut their target price on shares of APA from $25.00 to $22.00 and set a "sell" rating for the company in a research report on Friday, January 3rd. Piper Sandler lowered their target price on shares of APA from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 17th. Bernstein Bank reduced their target price on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. Finally, Scotiabank lowered their target price on shares of APA from $30.00 to $27.00 and set a "sector perform" rating for the company in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, APA currently has a consensus rating of "Hold" and a consensus target price of $30.65.

Insider Activity

In other news, Director Juliet S. Ellis purchased 4,391 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $22.78 per share, with a total value of $100,026.98. Following the purchase, the director now directly owns 12,436 shares of the company's stock, valued at $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.30% of the company's stock.

Institutional Trading of APA

A number of large investors have recently made changes to their positions in the company. Woodstock Corp increased its position in APA by 20.3% during the third quarter. Woodstock Corp now owns 308,253 shares of the company's stock worth $7,540,000 after buying an additional 51,993 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 last quarter. HITE Hedge Asset Management LLC bought a new stake in APA in the third quarter valued at about $7,238,000. Baader Bank Aktiengesellschaft increased its holdings in APA by 175.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company's stock valued at $543,000 after buying an additional 14,980 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in APA by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company's stock valued at $30,852,000 after buying an additional 149,762 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

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.