Gallo Partners LP Acquires New Position in APA Co. (NASDAQ:APA)

Gallo Partners LP acquired a new stake in shares of APA Co. (NASDAQ:APA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,123 shares of the company's stock, valued at approximately $765,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. raised its position in APA by 6.9% during the fourth quarter. Invesco Ltd. now owns 13,230,751 shares of the company's stock valued at $305,498,000 after purchasing an additional 850,052 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of APA by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company's stock worth $297,540,000 after buying an additional 894,574 shares during the last quarter. Geode Capital Management LLC boosted its holdings in APA by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 9,507,956 shares of the company's stock valued at $219,016,000 after acquiring an additional 200,770 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of APA by 33.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company's stock valued at $142,823,000 after buying an additional 1,540,055 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 worth $94,500,000 after acquiring an additional 929,770 shares during the period. Institutional investors own 83.01% of the company's stock.

APA Stock Performance

Shares of NASDAQ APA traded up $0.24 during midday trading on Friday, hitting $16.46. 6,772,665 shares of the stock traded hands, compared to its average volume of 6,835,639. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a one year low of $13.58 and a one year high of $33.41. The firm has a market capitalization of $5.95 billion, a P/E ratio of 2.32 and a beta of 2.74. The firm has a 50-day moving average of $18.02 and a two-hundred day moving average of $21.26.

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

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 6.08%. APA's payout ratio is presently 44.25%.

Analyst Ratings Changes

A number of brokerages have recently commented on APA. Susquehanna dropped their target price on shares of APA from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler decreased their target price on shares of APA from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Barclays dropped their price target on APA from $25.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley set a $20.00 price objective on APA and gave the company an "underweight" rating in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $23.00 target price on shares of APA in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.79.

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.