Tobam Grows Holdings in APA Co. (NASDAQ:APA)

Tobam boosted its holdings in shares of APA Co. (NASDAQ:APA) by 83.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,326 shares of the company’s stock after acquiring an additional 1,516 shares during the period. Tobam’s holdings in APA were worth $81,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sunpointe LLC increased its holdings in shares of APA by 2.8% during the second quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock valued at $391,000 after acquiring an additional 362 shares in the last quarter. GAMMA Investing LLC grew its position in APA by 12.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after purchasing an additional 380 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in APA by 6.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after purchasing an additional 429 shares in the last quarter. Inspire Investing LLC raised its holdings in APA by 3.7% in the first quarter. Inspire Investing LLC now owns 12,932 shares of the company’s stock worth $445,000 after buying an additional 457 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of APA by 0.5% in the fourth quarter. American International Group Inc. now owns 86,458 shares of the company’s stock worth $3,102,000 after buying an additional 461 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on APA shares. Scotiabank reduced their price target on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday. Barclays reduced their target price on APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company lowered their price target on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Susquehanna reduced their price objective on APA from $57.00 to $52.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, UBS Group lowered their target price on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus target price of $34.90.

APA Stock Up 0.8 %

NASDAQ APA opened at $27.07 on Friday. The stock has a 50 day moving average price of $26.67 and a 200-day moving average price of $29.41. APA Co. has a one year low of $22.72 and a one year high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $10.01 billion, a P/E ratio of 2.95 and a beta of 3.23.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business earned $0.85 earnings per share. APA’s quarterly revenue was up 41.6% compared to the same quarter last year. As a group, equities analysts predict that APA Co. will post 3.97 EPS for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 3.69%. APA’s payout ratio is currently 10.91%.

About APA

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.