Country Club Bank Makes New Investment in APA Co. (NASDAQ:APA)

Country Club Bank bought a new position in APA Co. (NASDAQ:APA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 72,928 shares of the company’s stock, valued at approximately $1,789,000.

Several other large investors also recently added to or reduced their stakes in APA. Covestor Ltd grew its position in APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of APA in the second quarter worth $42,000. GPS Wealth Strategies Group LLC lifted its stake in shares of APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after buying an additional 1,590 shares during the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of APA in the second quarter worth $57,000. 83.01% of the stock is owned by institutional investors.

APA Stock Up 0.6 %

APA opened at $24.82 on Friday. The firm’s 50-day simple moving average is $26.00 and its 200-day simple moving average is $28.70. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. APA Co. has a twelve month low of $22.72 and a twelve month high of $40.93. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 2.78 and a beta of 3.23.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. Equities research analysts anticipate that APA Co. will post 3.97 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on APA shares. Scotiabank reduced 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. Barclays reduced their price objective on shares of APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. Susquehanna cut their target price on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, Truist Financial upped their target price on shares of APA from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.18.

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.