Washington Trust Bank Boosts Stake in APA Co. (NASDAQ:APA)

Washington Trust Bank increased its position in APA Co. (NASDAQ:APA) by 34.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,449 shares of the company’s stock after purchasing an additional 2,931 shares during the period. Washington Trust Bank’s holdings in APA were worth $264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in APA during the 3rd quarter valued at approximately $281,000. Natixis Advisors LLC increased its position in APA by 15.1% during the 3rd quarter. Natixis Advisors LLC now owns 101,334 shares of the company’s stock worth $2,478,000 after purchasing an additional 13,266 shares during the period. Quest Partners LLC acquired a new position in APA during the 3rd quarter worth approximately $344,000. Pathstone Holdings LLC increased its position in APA by 2.7% during the 3rd quarter. Pathstone Holdings LLC now owns 68,074 shares of the company’s stock worth $1,665,000 after purchasing an additional 1,771 shares during the period. Finally, Caprock Group LLC increased its position in APA by 21.9% during the 3rd quarter. Caprock Group LLC now owns 12,828 shares of the company’s stock worth $314,000 after purchasing an additional 2,305 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Piper Sandler dropped 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 lowered their price target on APA from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. lowered their price target on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $45.00 to $32.00 in a report on Monday, March 10th. Finally, Mizuho lowered their price target on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.60.

APA Trading Up 0.2 %

Shares of APA opened at $20.61 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $7.50 billion, a P/E ratio of 2.91 and a beta of 3.26. The stock’s fifty day simple moving average is $21.97 and its 200 day simple moving average is $23.06. APA Co. has a twelve month low of $17.66 and a twelve month high of $36.05.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. On average, equities research analysts forecast that APA Co. will post 4.03 earnings per share for the current 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 issued a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 4.85%. APA’s dividend payout ratio is currently 44.25%.

APA 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.