Ieq Capital LLC Boosts Position in APA Co. (NASDAQ:APA)

Ieq Capital LLC raised its stake in APA Co. (NASDAQ:APA) by 104.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 48,609 shares of the company’s stock after buying an additional 24,819 shares during the period. Ieq Capital LLC’s holdings in APA were worth $1,122,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in APA. Janney Montgomery Scott LLC increased its stake in shares of APA by 22.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company’s stock valued at $1,503,000 after buying an additional 12,077 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of APA by 4.2% during 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 purchasing an additional 485,291 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in APA by 175.8% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company’s stock valued at $543,000 after buying an additional 14,980 shares during the period. HITE Hedge Asset Management LLC bought a new position in APA in the third quarter worth approximately $7,238,000. Finally, Victory Capital Management Inc. lifted its holdings in APA by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock worth $30,852,000 after buying an additional 149,762 shares during the period. 83.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $22.78 per share, with a total value of $100,026.98. Following the acquisition, the director now directly owns 12,436 shares in the company, valued at $283,292.08. This represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APA shares. Raymond James lifted their price target on APA from $44.00 to $45.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Citigroup reduced their target price on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. The Goldman Sachs Group lowered their price target on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of APA in a research report on Thursday, January 23rd. Finally, Mizuho decreased their target price on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.65.

APA Trading Up 0.4 %

APA stock opened at $22.87 on Tuesday. The stock has a 50-day moving average price of $22.94 and a 200 day moving average price of $24.19. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 3.23 and a beta of 3.15. APA Co. has a 52 week low of $20.32 and a 52 week 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.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.37%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is 14.12%.

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.