APA Co. (NASDAQ:APA – Get Rating) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 11,910,000 shares, an increase of 27.2% from the April 15th total of 9,360,000 shares. Based on an average trading volume of 9,780,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 3.5% of the company’s stock are sold short.
A number of research analysts recently commented on APA shares. Mizuho upgraded APA from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $56.00 in a research note on Thursday, March 31st. Susquehanna Bancshares upped their price objective on APA from $42.00 to $52.00 in a research note on Monday, April 25th. The Goldman Sachs Group upped their price objective on APA from $46.50 to $52.50 and gave the stock a “neutral” rating in a research note on Tuesday, April 26th. Raymond James upped their price objective on APA from $59.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 25th. Finally, MKM Partners upped their price objective on APA from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, February 23rd. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $46.55.
Shares of NASDAQ APA opened at $42.41 on Tuesday. APA has a 12 month low of $15.55 and a 12 month high of $45.27. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 6.06, a P/E/G ratio of 0.15 and a beta of 4.13. The company has a quick ratio of 1.12, a current ratio of 1.23 and a debt-to-equity ratio of 6.77. The business has a fifty day simple moving average of $40.89 and a 200-day simple moving average of $33.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Investors of record on Friday, July 22nd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, July 21st. APA’s dividend payout ratio is currently 7.14%.
In other news, CFO Stephen J. Riney acquired 6,300 shares of the stock in a transaction that occurred on Thursday, February 24th. The stock was purchased at an average cost of $31.47 per share, with a total value of $198,261.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider P Anthony Lannie sold 40,800 shares of the business’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $39.90, for a total value of $1,627,920.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in APA. CVA Family Office LLC purchased a new stake in APA in the 4th quarter worth about $30,000. First Mercantile Trust Co. purchased a new stake in shares of APA during the 3rd quarter worth about $31,000. Covestor Ltd raised its stake in shares of APA by 117.8% during the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after purchasing an additional 437 shares in the last quarter. Ahrens Investment Partners LLC purchased a new stake in shares of APA during the 4th quarter worth about $35,000. Finally, Outfitter Financial LLC purchased a new stake in shares of APA during the 4th quarter worth about $48,000. 84.08% of the stock is owned by hedge funds and other institutional investors.
APA Company Profile (Get Rating)
APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.
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