Ardevora Asset Management LLP Has $5.41 Million Stock Holdings in APA Co. (NASDAQ:APA)

Ardevora Asset Management LLP reduced its stake in APA Co. (NASDAQ:APA - Free Report) by 64.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 150,822 shares of the company's stock after selling 273,649 shares during the quarter. Ardevora Asset Management LLP's holdings in APA were worth $5,411,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in APA. Vanguard Group Inc. lifted its holdings in APA by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company's stock worth $1,714,656,000 after buying an additional 2,003,862 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in APA by 130.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company's stock worth $63,037,000 after buying an additional 867,257 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of APA by 1,527.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 921,662 shares of the company's stock valued at $37,880,000 after purchasing an additional 865,026 shares during the last quarter. Smead Capital Management Inc. increased its position in shares of APA by 13.6% in the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company's stock valued at $187,866,000 after purchasing an additional 626,460 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of APA by 8,888.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 549,552 shares of the company's stock valued at $22,587,000 after purchasing an additional 543,438 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Performance

NASDAQ:APA traded up $0.11 during trading hours on Monday, reaching $32.47. 4,375,641 shares of the company's stock were exchanged, compared to its average volume of 6,866,928. APA Co. has a 1-year low of $29.47 and a 1-year high of $46.15. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 3.50 and a beta of 3.27. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average of $32.41 and a 200 day moving average of $34.57.

APA (NASDAQ:APA - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.18). APA had a return on equity of 62.64% and a net margin of 34.95%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the business posted $1.48 EPS. The firm's revenue was down 12.3% on a year-over-year basis. Research analysts anticipate that APA Co. will post 4.85 EPS for the current year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, April 19th. APA's dividend payout ratio (DPR) is presently 10.78%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APA. Piper Sandler increased their price objective on shares of APA from $33.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday. Roth Mkm increased their price objective on shares of APA from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Tuesday, April 2nd. Truist Financial dropped their price objective on shares of APA from $59.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, April 5th. The Goldman Sachs Group dropped their price objective on shares of APA from $35.00 to $31.00 and set a "sell" rating on the stock in a research report on Tuesday, March 26th. Finally, Mizuho dropped their target price on shares of APA from $36.00 to $34.00 and set an "underperform" rating on the stock in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, APA has an average rating of "Hold" and a consensus price target of $42.10.

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.