Swan Global Investments LLC Buys New Stake in APA Co. (NASDAQ:APA)

Swan Global Investments LLC acquired a new position in shares of APA Co. (NASDAQ:APA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,100 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also modified their holdings of the business. Van ECK Associates Corp raised its holdings in APA by 0.6% in the fourth quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock valued at $1,780,000 after acquiring an additional 469 shares in the last quarter. TD Private Client Wealth LLC grew its position in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after buying an additional 540 shares during the last quarter. Asset Management One Co. Ltd. grew its position in APA by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock valued at $3,070,000 after buying an additional 544 shares during the last quarter. Segment Wealth Management LLC lifted its holdings in APA by 1.1% in the fourth quarter. Segment Wealth Management LLC now owns 54,938 shares of the company’s stock valued at $1,269,000 after acquiring an additional 571 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its holdings in APA by 77.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after acquiring an additional 586 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APA. Barclays cut their price target on APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of APA in a report on Thursday, January 23rd. Piper Sandler cut their target price on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. The Goldman Sachs Group dropped their price target on APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, January 3rd. Finally, Citigroup lowered their price objective on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.60.

APA Stock Performance

Shares of NASDAQ APA opened at $20.61 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day moving average price of $21.97 and a 200 day moving average price of $23.06. The stock has a market capitalization of $7.50 billion, a PE ratio of 2.91 and a beta of 3.26. APA Co. has a 52 week low of $17.66 and a 52 week high of $36.05.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. Analysts predict that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s dividend payout ratio is presently 44.25%.

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.