Tidal Investments LLC Raises Holdings in APA Co. (NASDAQ:APA)

Tidal Investments LLC lifted its holdings in shares of APA Co. (NASDAQ:APA) by 154.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,400 shares of the company’s stock after purchasing an additional 37,855 shares during the period. Tidal Investments LLC’s holdings in APA were worth $1,526,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Woodstock Corp grew its stake in APA by 20.3% in the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company’s stock worth $7,540,000 after acquiring an additional 51,993 shares during the period. Charles Schwab Investment Management Inc. grew its stake in APA by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after acquiring an additional 485,291 shares during the period. HITE Hedge Asset Management LLC purchased a new stake in APA in the 3rd quarter worth approximately $7,238,000. Ellis Investment Partners LLC purchased a new stake in APA in the 2nd quarter worth approximately $2,499,000. Finally, Victory Capital Management Inc. grew its stake in APA by 13.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock worth $30,852,000 after acquiring an additional 149,762 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on APA shares. Piper Sandler lowered their price objective on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday. Susquehanna lowered their price objective on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Mizuho lowered their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research note on Monday. Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $42.00 to $25.00 in a research note on Tuesday. Finally, Scotiabank lowered their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.14.

Insiders Place Their Bets

In related news, Director Juliet S. Ellis bought 4,391 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

APA Stock Performance

Shares of APA stock opened at $21.05 on Wednesday. APA Co. has a 12 month low of $20.45 and a 12 month high of $37.82. 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 firm has a market capitalization of $7.79 billion, a P/E ratio of 2.97 and a beta of 3.18. The company’s fifty day moving average price is $23.30 and its two-hundred day moving average price is $26.44.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.75%. APA’s dividend payout ratio is currently 14.12%.

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.