swisspartners Advisors Ltd lifted its position in APA Co. (NASDAQ:APA - Free Report) by 19.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,370 shares of the company's stock after purchasing an additional 33,770 shares during the quarter. APA accounts for about 3.9% of swisspartners Advisors Ltd's holdings, making the stock its 13th largest holding. swisspartners Advisors Ltd owned approximately 0.06% of APA worth $5,048,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Gladstone Institutional Advisory LLC bought a new position in shares of APA during the 3rd quarter valued at $214,000. Hartford Financial Management Inc. grew its stake in shares of APA by 21.9% during the third quarter. Hartford Financial Management Inc. now owns 4,486 shares of the company's stock valued at $110,000 after buying an additional 807 shares during the last quarter. S.A. Mason LLC purchased a new position in shares of APA in the third quarter worth about $173,000. Gibraltar Capital Management Inc. lifted its stake in shares of APA by 1.1% in the 3rd quarter. Gibraltar Capital Management Inc. now owns 207,578 shares of the company's stock valued at $5,077,000 after acquiring an additional 2,230 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of APA by 48.6% in the 3rd quarter. abrdn plc now owns 72,994 shares of the company's stock valued at $1,810,000 after acquiring an additional 23,881 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have commented on APA. Barclays decreased their price target on APA from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 3rd. Bernstein Bank lowered their price target on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. Sanford C. Bernstein cut their price target on shares of APA from $37.00 to $30.00 and set a "market perform" rating on the stock in a report on Wednesday, July 17th. Wolfe Research initiated coverage on shares of APA in a research note on Thursday, July 18th. They set an "outperform" rating and a $42.00 price objective for the company. Finally, Susquehanna cut their target price on APA from $52.00 to $48.00 and set a "positive" rating on the stock in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, APA currently has an average rating of "Hold" and a consensus price target of $34.18.
Read Our Latest Stock Analysis on APA
APA Stock Down 2.2 %
Shares of APA traded down $0.51 during mid-day trading on Friday, reaching $23.09. The company had a trading volume of 5,213,460 shares, compared to its average volume of 6,152,375. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 2.52 and a beta of 3.23. The firm has a 50-day moving average price of $25.50 and a 200 day moving average price of $28.37. APA Co. has a 52 week low of $22.72 and a 52 week high of $40.93.
APA (NASDAQ:APA - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company's quarterly revenue was up 41.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. On average, sell-side analysts forecast that APA Co. will post 4.01 EPS for the current year.
APA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA's dividend payout ratio (DPR) is 10.91%.
APA Company Profile
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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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