APA Co. (NASDAQ:APA) Sees Large Decrease in Short Interest

APA Co. (NASDAQ:APA) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 22,260,000 shares, a decrease of 7.4% from the December 15th total of 24,050,000 shares. Based on an average trading volume of 6,270,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 6.2% of the company’s stock are sold short.

Insider Transactions at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the acquisition, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On APA

A number of large investors have recently bought and sold shares of the business. Woodstock Corp increased its position in APA by 20.3% in the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company’s stock valued at $7,540,000 after acquiring an additional 51,993 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of APA by 4.2% during 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 purchasing an additional 485,291 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of APA in the third quarter valued at approximately $7,238,000. Victory Capital Management Inc. raised its position in APA by 13.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock worth $30,852,000 after purchasing an additional 149,762 shares during the last quarter. Finally, PVG Asset Management Corp bought a new position in APA in the 3rd quarter valued at $757,000. 83.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on APA shares. The Goldman Sachs Group decreased their price target on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a report on Friday, January 3rd. Piper Sandler lowered their target price on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Barclays cut their price target on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, November 8th. UBS Group lowered their price objective on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of APA in a research note on Wednesday, January 15th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.55.

APA Trading Down 3.0 %

Shares of APA stock opened at $24.40 on Monday. The stock has a market capitalization of $9.03 billion, a P/E ratio of 3.45 and a beta of 3.16. APA has a 12-month low of $20.32 and a 12-month high of $36.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The company has a 50-day simple moving average of $22.62 and a 200 day simple moving average of $25.49.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s 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.