Investors Research Corp Increases Stock Position in APA Co. (NASDAQ:APA)

Investors Research Corp raised its position in APA Co. (NASDAQ:APA - Free Report) by 1,532.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,436 shares of the company's stock after buying an additional 34,204 shares during the quarter. Investors Research Corp's holdings in APA were worth $841,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Harris Associates L P boosted its holdings in shares of APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company's stock worth $609,414,000 after acquiring an additional 4,293,932 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in APA by 12.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company's stock worth $745,341,000 after purchasing an additional 3,411,270 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in APA by 3,450.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company's stock worth $24,115,000 after purchasing an additional 958,141 shares during the period. Bank of New York Mellon Corp grew its holdings in APA by 29.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company's stock valued at $94,500,000 after buying an additional 929,770 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of APA by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company's stock valued at $297,540,000 after buying an additional 894,574 shares during the period. Hedge funds and other institutional investors own 83.01% of the company's stock.

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APA Trading Down 3.1 %

NASDAQ:APA traded down $0.61 during midday trading on Thursday, reaching $19.04. 5,574,349 shares of the stock traded hands, compared to its average volume of 6,531,586. The stock has a market capitalization of $6.93 billion, a P/E ratio of 2.69 and a beta of 3.26. APA Co. has a 12 month low of $17.66 and a 12 month high of $36.05. 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 company has a fifty day moving average of $22.45 and a 200 day moving average of $23.46.

APA (NASDAQ:APA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.31 billion. On average, research analysts predict that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date is Tuesday, April 22nd. APA's payout ratio is 44.25%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APA. Susquehanna reduced their price objective on shares of APA from $33.00 to $31.00 and set a "positive" rating for the company in a research note on Monday, March 3rd. Piper Sandler decreased their price target on shares of APA from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their target price on APA from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday. The Goldman Sachs Group lowered their price target on APA from $25.00 to $22.00 and set a "sell" rating on the stock in a report on Friday, January 3rd. Finally, Raymond James lowered APA from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $45.00 to $32.00 in a report on Monday. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, APA has an average rating of "Hold" and a consensus target price of $28.90.

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.