Xponance Inc. Grows Position in APA Co. (NASDAQ:APA)

Xponance Inc. grew its stake in APA Co. (NASDAQ:APA) by 22.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 134,504 shares of the company’s stock after buying an additional 24,707 shares during the period. Xponance Inc.’s holdings in APA were worth $4,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Money Concepts Capital Corp boosted its position in APA by 228.6% in the fourth quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock valued at $34,000 after buying an additional 503 shares during the last quarter. Covestor Ltd boosted its holdings in shares of APA by 117.8% in the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after acquiring an additional 437 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of APA in the third quarter worth $34,000. Rakuten Securities Inc. purchased a new position in shares of APA during the fourth quarter worth $34,000. Finally, Quent Capital LLC lifted its position in APA by 64.0% during the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after purchasing an additional 375 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler increased their price target on APA from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday. Roth Mkm lifted their price target on APA from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. StockNews.com raised APA from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Scotiabank reaffirmed a “sector perform” rating and set a $37.00 price objective (down previously from $43.00) on shares of APA in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.90.

APA Stock Performance

Shares of NASDAQ:APA opened at $32.36 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. APA Co. has a 1 year low of $29.47 and a 1 year high of $46.15. The firm has a market capitalization of $9.74 billion, a PE ratio of 3.49 and a beta of 3.27. The business’s 50 day moving average price is $32.37 and its 200-day moving average price is $34.63.

APA (NASDAQ:APA) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. As a group, equities research analysts expect that APA Co. will post 4.85 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a yield of 3.09%. APA’s payout ratio is 10.78%.

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.