295,916 Shares in APA Co. (NASDAQ:APA) Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC purchased a new stake in shares of APA Co. (NASDAQ:APA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 295,916 shares of the company’s stock, valued at approximately $7,238,000.

A number of other large investors also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC raised its stake in APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after buying an additional 3,411,270 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares during the period. Mizuho Securities USA LLC increased its stake in APA by 3,450.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock valued at $24,115,000 after purchasing an additional 958,141 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of APA by 112.6% during the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock worth $42,092,000 after purchasing an additional 767,557 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in APA by 17.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,102,659 shares of the company’s stock valued at $100,351,000 after acquiring an additional 600,612 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on APA. Truist Financial dropped their price target on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Evercore ISI dropped their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Barclays dropped their price target on shares of APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, November 8th. Finally, Royal Bank of Canada decreased their price objective on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.57.

APA Trading Down 1.4 %

APA stock opened at $22.34 on Tuesday. The firm’s fifty day moving average price is $24.10 and its 200-day moving average price is $27.11. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a fifty-two week low of $21.15 and a fifty-two week high of $37.82. The stock has a market cap of $8.26 billion, a P/E ratio of 3.16 and a beta of 3.19.

APA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.48%. APA’s dividend payout ratio is currently 14.12%.

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.