Archer Investment Corp Raises Stake in APA Co. (NASDAQ:APA)

Archer Investment Corp raised its position in APA Co. (NASDAQ:APA) by 95,700.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,580 shares of the company’s stock after purchasing an additional 9,570 shares during the period. Archer Investment Corp’s holdings in APA were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of APA. Dimensional Fund Advisors LP raised its position in shares of 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares during the last quarter. Webs Creek Capital Management LP acquired a new position in shares of APA in the 1st quarter valued at $28,593,000. AQR Capital Management LLC boosted its holdings in shares of APA by 112.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after buying an additional 767,557 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after buying an additional 455,312 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Down 1.0 %

APA stock opened at $22.38 on Friday. The stock’s 50 day moving average price is $24.51 and its 200 day moving average price is $27.69. The company has a market cap of $8.28 billion, a PE ratio of 3.16 and a beta of 3.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA Co. has a 1-year low of $21.15 and a 1-year high of $37.82.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.47%. APA’s dividend payout ratio (DPR) is presently 14.12%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APA. Evercore ISI decreased their price objective 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. Citigroup reduced their target price on APA from $32.00 to $29.00 in a report on Friday, October 18th. UBS Group dropped their price target on APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Susquehanna reduced their price objective on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, Wells Fargo & Company cut their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, APA presently has an average rating of “Hold” and a consensus price target of $32.95.

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.