SVB Wealth LLC Raises Position in APA Co. (NASDAQ:APA)

SVB Wealth LLC boosted its stake in APA Co. (NASDAQ:APA) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,868 shares of the company’s stock after buying an additional 386 shares during the quarter. SVB Wealth LLC’s holdings in APA were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HB Wealth Management LLC purchased a new position in APA in the 3rd quarter worth approximately $256,000. Ferguson Wellman Capital Management Inc. lifted its stake in APA by 3.2% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock worth $44,412,000 after purchasing an additional 38,505 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in APA by 14.3% in the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock worth $26,053,000 after purchasing an additional 90,610 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in APA by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock worth $104,037,000 after purchasing an additional 24,182 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in APA in the 4th quarter worth approximately $11,050,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Performance

Shares of APA stock opened at $32.06 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. APA Co. has a 52 week low of $29.47 and a 52 week high of $46.15. The stock has a market capitalization of $9.65 billion, a PE ratio of 3.45 and a beta of 3.27. The firm has a 50 day moving average of $32.46 and a two-hundred day moving average of $34.53.

APA (NASDAQ:APA) last issued its quarterly 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 net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business earned $1.48 EPS. The business’s quarterly revenue was down 12.3% on a year-over-year basis. On average, research analysts predict that APA Co. will post 4.85 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 3.12%. APA’s dividend payout ratio is presently 10.78%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler raised their target price 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. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price target on shares of APA in a report on Monday, April 8th. Susquehanna raised their price target on shares of APA from $50.00 to $54.00 and gave the stock a “positive” rating in a report on Monday. Barclays began coverage on shares of APA in a report on Wednesday, April 10th. They set an “equal weight” rating and a $40.00 price target for the company. Finally, Raymond James cut their price target on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.10.

APA Company 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.