International Assets Investment Management LLC Takes Position in APA Co. (NASDAQ:APA)

International Assets Investment Management LLC acquired a new stake in shares of APA Co. (NASDAQ:APA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 30,805 shares of the company's stock, valued at approximately $11,050,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of APA by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company's stock valued at $1,714,656,000 after acquiring an additional 2,003,862 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in shares of APA by 3.8% in the third quarter. Smead Capital Management Inc. now owns 4,609,497 shares of the company's stock valued at $189,450,000 after purchasing an additional 167,934 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of APA by 1.9% in the third quarter. Clearbridge Investments LLC now owns 2,815,109 shares of the company's stock valued at $115,701,000 after purchasing an additional 53,241 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of APA by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company's stock valued at $104,037,000 after purchasing an additional 24,182 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of APA by 130.0% in the third quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company's stock valued at $63,037,000 after purchasing an additional 867,257 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Price Performance

NASDAQ:APA traded up $0.66 on Monday, reaching $29.92. The stock had a trading volume of 6,304,662 shares, compared to its average volume of 6,902,599. The company has a market capitalization of $9.01 billion, a P/E ratio of 3.35 and a beta of 3.29. APA Co. has a 1-year low of $28.90 and a 1-year high of $46.15. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average price of $32.52 and a 200-day moving average price of $34.01.

APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. APA's revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts forecast that APA Co. will post 5.03 EPS for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, April 19th. APA's dividend payout ratio (DPR) is 11.19%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on APA. Mizuho reduced their target price on APA from $34.00 to $32.00 and set an "underperform" rating for the company in a report on Thursday. Barclays dropped their price target on shares of APA from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday. Piper Sandler upped their price target on shares of APA from $33.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, April 19th. Scotiabank restated a "sector perform" rating and set a $37.00 target price (down from $43.00) on shares of APA in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $45.00 target price on shares of APA in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, APA presently has a consensus rating of "Hold" and an average 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.