Palisade Asset Management LLC Makes New $876,000 Investment in APA Co. (NASDAQ:APA)

Palisade Asset Management LLC purchased a new position in shares of APA Co. (NASDAQ:APA) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 35,813 shares of the company’s stock, valued at approximately $876,000.

A number of other hedge funds have also recently modified their holdings of APA. Covestor Ltd increased its holdings in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of APA during the 2nd quarter valued at $42,000. GPS Wealth Strategies Group LLC lifted its stake in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after buying an additional 1,590 shares in the last quarter. Finally, Huntington National Bank lifted its stake in shares of APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after buying an additional 561 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of NASDAQ:APA opened at $22.77 on Friday. The firm’s 50 day simple moving average is $24.34 and its 200-day simple moving average is $27.42. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a one year low of $21.15 and a one year high of $37.82. The firm has a market cap of $8.42 billion, a PE ratio of 3.22 and a beta of 3.24.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.39%. APA’s payout ratio is currently 14.12%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APA shares. Royal Bank of Canada cut their price target on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Mizuho decreased their target price on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a research note on Monday, September 16th. Citigroup lowered their price target on APA from $32.00 to $29.00 in a report on Friday, October 18th. Bernstein Bank reduced their price target on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. Finally, Barclays decreased their target price on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.81.

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.