Smead Capital Management Inc. Acquires 626,460 Shares of APA Co. (NASDAQ:APA)

Smead Capital Management Inc. lifted its holdings in shares of APA Co. (NASDAQ:APA) by 13.6% during the 4th quarter, Holdings Channel reports. The firm owned 5,235,957 shares of the company’s stock after purchasing an additional 626,460 shares during the period. APA makes up 3.4% of Smead Capital Management Inc.’s holdings, making the stock its 14th largest holding. Smead Capital Management Inc.’s holdings in APA were worth $187,866,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Lido Advisors LLC increased its stake in APA by 1.2% in the third quarter. Lido Advisors LLC now owns 21,901 shares of the company’s stock valued at $900,000 after acquiring an additional 266 shares during the last quarter. DNB Asset Management AS increased its stake in APA by 0.6% in the fourth quarter. DNB Asset Management AS now owns 49,846 shares of the company’s stock valued at $1,788,000 after acquiring an additional 308 shares during the last quarter. HB Wealth Management LLC increased its stake in APA by 5.0% in the fourth quarter. HB Wealth Management LLC now owns 6,528 shares of the company’s stock valued at $234,000 after acquiring an additional 309 shares during the last quarter. Horizon Investments LLC increased its stake in APA by 7.1% in the second quarter. Horizon Investments LLC now owns 4,902 shares of the company’s stock valued at $166,000 after acquiring an additional 323 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in APA by 30.7% in the second quarter. Harbour Investments Inc. now owns 1,453 shares of the company’s stock valued at $50,000 after acquiring an additional 341 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APA. Mizuho decreased their price objective on shares of APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a research note on Friday, March 15th. Roth Mkm boosted their target price on shares of APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group decreased their target price on shares of APA from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Tuesday, March 26th. Raymond James decreased their target price on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Truist Financial decreased their target price on shares of APA from $59.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.80.

APA Trading Up 0.0 %

APA stock traded up $0.01 during midday trading on Thursday, hitting $32.27. The stock had a trading volume of 2,540,639 shares, compared to its average volume of 6,884,548. The firm has a market cap of $9.72 billion, a P/E ratio of 3.48 and a beta of 3.27. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. APA Co. has a 1-year low of $29.47 and a 1-year high of $46.15. The business has a fifty day moving average price of $32.28 and a two-hundred day moving average price of $34.73.

APA (NASDAQ:APA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the company posted $1.48 EPS. APA’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, sell-side analysts predict that APA Co. will post 4.85 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.10%. APA’s dividend payout ratio is currently 10.78%.

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.