Frank Rimerman Advisors LLC Purchases New Shares in APA Co. (NASDAQ:APA)

Frank Rimerman Advisors LLC purchased a new stake in APA Co. (NASDAQ:APA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,975 shares of the company’s stock, valued at approximately $277,000.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of APA by 22.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company’s stock valued at $1,503,000 after buying an additional 12,077 shares during the last quarter. US Bancorp DE raised its holdings in shares of APA by 2.2% in the fourth quarter. US Bancorp DE now owns 47,719 shares of the company’s stock valued at $1,102,000 after buying an additional 1,010 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of APA by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock valued at $293,312,000 after buying an additional 485,291 shares during the last quarter. Baader Bank Aktiengesellschaft raised its holdings in shares of APA by 175.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company’s stock valued at $543,000 after buying an additional 14,980 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in shares of APA in the third quarter valued at about $7,238,000. 83.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on APA shares. Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $45.00 to $32.00 in a report on Monday, March 10th. Mizuho dropped their price objective on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. Citigroup dropped their price objective on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company cut APA from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $42.00 to $25.00 in a report on Tuesday, December 17th. Finally, Piper Sandler dropped their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, APA currently has a consensus rating of “Hold” and a consensus target price of $28.70.

APA Price Performance

Shares of APA opened at $20.03 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day simple moving average of $22.22 and a 200 day simple moving average of $23.23. APA Co. has a 52-week low of $17.66 and a 52-week high of $36.05. The firm has a market capitalization of $7.29 billion, a PE ratio of 2.83 and a beta of 3.26.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share 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 analyst estimates of $2.31 billion. Sell-side analysts predict that APA Co. will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is currently 44.25%.

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.