Cibc World Markets Corp Increases Holdings in APA Co. (NASDAQ:APA)

Cibc World Markets Corp boosted its position in APA Co. (NASDAQ:APA) by 16.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,400 shares of the company’s stock after purchasing an additional 8,118 shares during the period. Cibc World Markets Corp’s holdings in APA were worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APA. Gallacher Capital Management LLC increased its position in shares of APA by 6.0% in the fourth quarter. Gallacher Capital Management LLC now owns 21,822 shares of the company’s stock valued at $504,000 after buying an additional 1,226 shares in the last quarter. one8zero8 LLC acquired a new stake in APA in the 4th quarter valued at about $1,883,000. Natixis Advisors LLC grew its stake in APA by 13.6% in the 4th quarter. Natixis Advisors LLC now owns 115,104 shares of the company’s stock valued at $2,658,000 after acquiring an additional 13,770 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in APA during the 4th quarter valued at about $277,000. Finally, Madison Investment Advisors LLC acquired a new position in APA during the fourth quarter worth about $8,282,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Price Performance

Shares of APA stock opened at $20.61 on Friday. The business’s fifty day moving average price is $21.97 and its 200 day moving average price is $23.08. APA Co. has a twelve month low of $17.66 and a twelve month high of $36.05. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $7.50 billion, a P/E ratio of 2.91 and a beta of 3.26.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.31 billion. As a group, research analysts anticipate that APA Co. will post 4.03 earnings per share for the current year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s dividend payout ratio is presently 44.25%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho lowered their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research report on Monday, December 16th. Piper Sandler lowered their target price on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $45.00 to $32.00 in a report on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 target price on shares of APA in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, APA currently has an average rating of “Hold” and an average price target of $28.60.

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.