Entropy Technologies LP Takes Position in APA Co. (NASDAQ:APA)

Entropy Technologies LP acquired a new stake in APA Co. (NASDAQ:APA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 32,860 shares of the company's stock, valued at approximately $759,000.

Several other institutional investors also recently bought and sold shares of APA. Sanctuary Advisors LLC acquired a new stake in shares of APA in the second quarter valued at about $308,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in APA by 357.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,200 shares of the company's stock worth $78,000 after buying an additional 2,500 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of APA in the third quarter valued at about $88,000. Wedge Capital Management L L P NC grew its stake in shares of APA by 4.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 406,424 shares of the company's stock valued at $9,941,000 after buying an additional 16,455 shares during the period. Finally, Vontobel Holding Ltd. increased its holdings in shares of APA by 9.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 191,616 shares of the company's stock worth $4,687,000 after buying an additional 16,230 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Up 2.9 %

APA stock traded up $0.65 during mid-day trading on Friday, hitting $23.14. The company had a trading volume of 7,881,814 shares, compared to its average volume of 6,460,765. 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 Co. has a 1 year low of $20.32 and a 1 year high of $36.04. The business has a fifty day moving average of $22.84 and a 200 day moving average of $24.45. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 3.27 and a beta of 3.15.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Tuesday, April 22nd. APA's payout ratio is currently 14.12%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APA. Wells Fargo & Company downgraded shares of APA from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $42.00 to $25.00 in a research note on Tuesday, December 17th. Bernstein Bank dropped their target price on APA from $30.00 to $28.00 in a research report on Friday, October 18th. JPMorgan Chase & Co. cut their price target on shares of APA from $29.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Truist Financial lowered their price objective on shares of APA from $36.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Finally, Piper Sandler cut 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. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, APA currently has an average rating of "Hold" and an average price target of $30.65.

Insider Activity at APA

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of APA stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the transaction, the director now directly owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

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.