Entropy Technologies LP Acquires Shares of 32,860 APA Co. (NASDAQ:APA)

Entropy Technologies LP bought a new position in APA Co. (NASDAQ:APA) during the 4th quarter, Holdings Channel.com reports. The firm bought 32,860 shares of the company’s stock, valued at approximately $759,000.

Several other hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC grew its position in shares of APA by 12.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after buying an additional 3,411,270 shares during the last quarter. Harris Associates L P lifted its stake in APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after acquiring an additional 4,293,932 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in APA by 4.2% in 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 acquiring an additional 485,291 shares in the last quarter. Smead Capital Management Inc. increased its position in APA by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock valued at $236,466,000 after purchasing an additional 326,042 shares during the period. Finally, Geode Capital Management LLC raised its holdings in APA by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock worth $226,928,000 after purchasing an additional 224,547 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup cut their target price on shares of APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Truist Financial reduced their target price on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Barclays decreased their target price on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. UBS Group reduced their price target on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Raymond James increased their price objective on APA from $44.00 to $45.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, APA currently has an average rating of “Hold” and a consensus target price of $30.65.

APA Price Performance

Shares of NASDAQ APA opened at $23.31 on Wednesday. The firm has a market cap of $8.62 billion, a P/E ratio of 3.29 and a beta of 3.15. APA Co. has a twelve month low of $20.32 and a twelve 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 moving average of $22.79 and a 200 day moving average of $24.57.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s payout ratio is currently 14.12%.

Insider Activity

In related news, Director Juliet S. Ellis bought 4,391 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This trade represents a 54.58 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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.