International Assets Investment Management LLC Makes New Investment in APA Co. (NASDAQ:APA)

International Assets Investment Management LLC acquired a new stake in shares of APA Co. (NASDAQ:APA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,805 shares of the company’s stock, valued at approximately $11,050,000.

Several other institutional investors have also modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new position in APA in the 3rd quarter valued at $34,000. Quent Capital LLC boosted its position in APA by 64.0% during the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after acquiring an additional 375 shares during the last quarter. CVA Family Office LLC purchased a new stake in APA during the 4th quarter valued at about $56,000. Federated Hermes Inc. raised its holdings in APA by 122.9% in the 3rd quarter. Federated Hermes Inc. now owns 1,872 shares of the company’s stock valued at $77,000 after acquiring an additional 1,032 shares during the last quarter. Finally, Armstrong Advisory Group Inc. acquired a new stake in APA in the 4th quarter valued at about $95,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Price Performance

APA stock opened at $29.26 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. APA Co. has a 52-week low of $28.90 and a 52-week high of $46.15. The firm has a market cap of $8.81 billion, a PE ratio of 3.27 and a beta of 3.29. The company’s 50 day moving average is $32.52 and its two-hundred day moving average is $34.07.

APA (NASDAQ:APA) last issued its earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. On average, research analysts expect that APA Co. will post 5.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Friday, April 19th. APA’s dividend payout ratio (DPR) is 11.19%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Raymond James dropped their price target on APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Piper Sandler upped their target price on APA from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price target on shares of APA in a report on Monday, April 8th. StockNews.com lowered shares of APA from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $37.00 target price (down from $43.00) on shares of APA in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.05.

APA 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.