Summit Global Investments Grows Stake in APA Co. (NASDAQ:APA)

Summit Global Investments lifted its stake in APA Co. (NASDAQ:APA) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,315 shares of the company’s stock after buying an additional 1,010 shares during the period. Summit Global Investments’ holdings in APA were worth $227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lido Advisors LLC grew its stake in APA by 1.2% during the 3rd quarter. Lido Advisors LLC now owns 21,901 shares of the company’s stock valued at $900,000 after purchasing an additional 266 shares in the last quarter. DNB Asset Management AS increased its stake in shares of APA by 0.6% in the fourth quarter. DNB Asset Management AS now owns 49,846 shares of the company’s stock worth $1,788,000 after buying an additional 308 shares during the last quarter. HB Wealth Management LLC raised its holdings in APA by 5.0% in the fourth quarter. HB Wealth Management LLC now owns 6,528 shares of the company’s stock valued at $234,000 after acquiring an additional 309 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in APA by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company’s stock valued at $898,000 after acquiring an additional 358 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in APA by 64.0% during the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after acquiring an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on APA. Raymond James dropped their price target on APA from $44.00 to $43.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Truist Financial reduced their price target on shares of APA from $59.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on shares of APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler lifted their target price on APA from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Finally, Roth Mkm increased their price target on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $42.05.

APA Stock Performance

Shares of APA stock opened at $29.92 on Tuesday. APA Co. has a 1-year low of $28.90 and a 1-year high of $46.15. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 3.35 and a beta of 3.29. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock’s fifty day simple moving average is $32.52 and its 200-day simple moving average is $34.01.

APA (NASDAQ:APA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. APA’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. On average, sell-side analysts predict that APA Co. will post 5.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 3.34%. APA’s payout ratio is 11.19%.

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.