Palisade Asset Management LLC Buys New Holdings in APA Co. (NASDAQ:APA)

Palisade Asset Management LLC purchased a new position in APA Co. (NASDAQ:APA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 35,813 shares of the company’s stock, valued at approximately $876,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APA. Covestor Ltd grew its stake in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of APA in the 2nd quarter worth approximately $42,000. Huntington National Bank increased its stake in shares of APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after buying an additional 561 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Citigroup reduced their price target on shares of APA from $32.00 to $29.00 in a research report on Friday, October 18th. Evercore ISI lowered their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Wells Fargo & Company cut their price objective on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, Susquehanna decreased their target price on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.81.

APA Stock Up 1.5 %

APA stock opened at $22.77 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA Co. has a 1-year low of $21.15 and a 1-year high of $37.82. The stock has a market capitalization of $8.42 billion, a P/E ratio of 3.22 and a beta of 3.24. The business has a fifty day moving average price of $24.34 and a 200-day moving average price of $27.42.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.39%. APA’s dividend payout ratio is presently 14.12%.

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.