AXQ Capital LP Invests $527,000 in APA Co. (NASDAQ:APA)

AXQ Capital LP bought a new position in shares of APA Co. (NASDAQ:APA) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,838 shares of the company’s stock, valued at approximately $527,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new stake in shares of APA during the 3rd quarter worth approximately $281,000. Natixis Advisors LLC lifted its position in APA by 15.1% in the third quarter. Natixis Advisors LLC now owns 101,334 shares of the company’s stock valued at $2,478,000 after acquiring an additional 13,266 shares during the last quarter. Quest Partners LLC purchased a new stake in APA in the third quarter valued at $344,000. Pathstone Holdings LLC boosted its stake in APA by 2.7% in the third quarter. Pathstone Holdings LLC now owns 68,074 shares of the company’s stock valued at $1,665,000 after acquiring an additional 1,771 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in shares of APA by 21.9% during the third quarter. Caprock Group LLC now owns 12,828 shares of the company’s stock worth $314,000 after purchasing an additional 2,305 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA opened at $20.61 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA Co. has a 52-week low of $17.66 and a 52-week high of $36.05. The company has a 50-day simple moving average of $21.97 and a 200-day simple moving average of $23.06. The company has a market capitalization of $7.50 billion, a PE 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). The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. Equities research analysts predict that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.85%. APA’s payout ratio is 44.25%.

Analyst Ratings Changes

A number of brokerages recently issued reports on APA. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 target price on shares of APA in a research report on Thursday, January 23rd. Susquehanna lowered their target price on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, March 3rd. Piper Sandler reduced their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Barclays decreased their price target on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of APA from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.60.

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.