Tidal Investments LLC Increases Stake in APA Co. (NASDAQ:APA)

Tidal Investments LLC boosted its holdings in shares of APA Co. (NASDAQ:APA - Free Report) by 154.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 62,400 shares of the company's stock after acquiring an additional 37,855 shares during the period. Tidal Investments LLC's holdings in APA were worth $1,526,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. PVG Asset Management Corp bought a new stake in APA during the 3rd quarter worth approximately $757,000. Sanctuary Advisors LLC increased its position in shares of APA by 23.0% during the third quarter. Sanctuary Advisors LLC now owns 11,678 shares of the company's stock worth $266,000 after acquiring an additional 2,185 shares in the last quarter. TD Private Client Wealth LLC lifted its position in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company's stock valued at $29,000 after acquiring an additional 540 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in APA by 83.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 4,907 shares of the company's stock worth $120,000 after purchasing an additional 2,236 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in shares of APA by 23.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 12,162 shares of the company's stock valued at $296,000 after purchasing an additional 2,325 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Performance

APA stock traded down $0.21 during midday trading on Wednesday, hitting $20.84. The company's stock had a trading volume of 8,737,675 shares, compared to its average volume of 6,301,644. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 2.94 and a beta of 3.18. APA Co. has a 1 year low of $20.45 and a 1 year high of $37.82. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock's 50-day moving average price is $23.19 and its 200 day moving average price is $26.40.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.80%. The ex-dividend date is Wednesday, January 22nd. APA's dividend payout ratio (DPR) is presently 14.12%.

Insider Activity

In related news, Director Juliet S. Ellis bought 4,391 shares of the company's stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APA. Evercore ISI lowered their price objective on shares of APA from $39.00 to $33.00 and set an "in-line" rating on the stock in a research note on Monday, September 30th. The Goldman Sachs Group reduced their price objective on APA from $26.00 to $25.00 in a report on Friday, October 18th. Truist Financial dropped their target price on APA from $36.00 to $33.00 and set a "buy" rating for the company in a report on Friday, November 8th. Scotiabank dropped their price objective 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. Finally, Bernstein Bank decreased their target price on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, APA presently has a consensus rating of "Hold" and an average price target of $31.14.

About APA

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.