NEOS Investment Management LLC Boosts Holdings in APA Co. (NASDAQ:APA)

NEOS Investment Management LLC raised its holdings in APA Co. (NASDAQ:APA) by 29.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,263 shares of the company’s stock after purchasing an additional 3,728 shares during the period. NEOS Investment Management LLC’s holdings in APA were worth $376,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TD Private Client Wealth LLC grew its holdings in APA by 84.1% during 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. Riverview Trust Co boosted its stake in shares of APA by 5,718.2% during the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after acquiring an additional 1,258 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after purchasing an additional 586 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in APA in the 4th quarter valued at about $35,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in APA by 93.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock valued at $37,000 after purchasing an additional 780 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Performance

APA stock opened at $21.02 on Tuesday. APA Co. has a 12-month low of $17.66 and a 12-month high of $36.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 2.97 and a beta of 3.26. The firm’s fifty day moving average price is $21.51 and its 200 day moving average price is $22.89.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. On average, research analysts forecast that APA Co. will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.76%. APA’s dividend payout ratio (DPR) is presently 44.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on APA shares. Morgan Stanley set a $22.00 price target on shares of APA and gave the stock an “underweight” rating in a report on Wednesday, March 26th. Raymond James downgraded APA from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $45.00 to $32.00 in a report on Monday, March 10th. UBS Group decreased their price objective on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Piper Sandler dropped their target price on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Finally, Susquehanna decreased their price target on APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, March 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.25.

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.