APA Co. (NASDAQ:APA) Position Boosted by Gallacher Capital Management LLC

Gallacher Capital Management LLC increased its holdings in APA Co. (NASDAQ:APA) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,875 shares of the company’s stock after purchasing an additional 1,495 shares during the quarter. Gallacher Capital Management LLC’s holdings in APA were worth $534,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI boosted its position in shares of APA by 63.7% in the 4th quarter. National Bank of Canada FI now owns 107,466 shares of the company’s stock valued at $3,881,000 after purchasing an additional 41,820 shares during the period. Axxcess Wealth Management LLC purchased a new stake in APA during the fourth quarter valued at about $275,000. M&T Bank Corp increased its position in shares of APA by 2.4% in the fourth quarter. M&T Bank Corp now owns 20,413 shares of the company’s stock worth $733,000 after acquiring an additional 486 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of APA by 20.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 11,935 shares of the company’s stock valued at $428,000 after acquiring an additional 2,028 shares during the period. Finally, Summit Global Investments lifted its position in shares of APA by 19.0% in the 4th quarter. Summit Global Investments now owns 6,315 shares of the company’s stock valued at $227,000 after acquiring an additional 1,010 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Stock Up 0.3 %

NASDAQ APA traded up $0.08 during trading on Friday, hitting $29.26. 9,600,753 shares of the company traded hands, compared to its average volume of 6,374,839. APA Co. has a 12 month low of $28.90 and a 12 month high of $46.15. The business has a fifty day simple moving average of $32.52 and a 200 day simple moving average of $34.07. The company has a market capitalization of $8.81 billion, a P/E ratio of 3.27 and a beta of 3.29. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 1.42.

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

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders 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 of this dividend is Friday, April 19th. APA’s dividend payout ratio is 11.19%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on APA shares. Piper Sandler lifted their price objective on shares of APA from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Susquehanna upped their price target on APA from $50.00 to $54.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Morgan Stanley restated an “underweight” rating and set a $28.00 price objective on shares of APA in a research report on Monday, April 15th. Mizuho lowered their target price on APA from $34.00 to $32.00 and set an “underperform” rating on the stock in a research note on Thursday. Finally, Raymond James reduced their price target on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, APA currently has an average rating of “Hold” and a consensus price target 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.