Concentric Capital Strategies LP Acquires Shares of 94,551 APA Co. (NASDAQ:APA)

Concentric Capital Strategies LP bought a new position in shares of APA Co. (NASDAQ:APA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 94,551 shares of the company’s stock, valued at approximately $2,313,000.

Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its position in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of APA during the 2nd quarter worth $42,000. GPS Wealth Strategies Group LLC lifted its position in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after buying an additional 1,590 shares during the last quarter. Huntington National Bank boosted its stake in APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after buying an additional 561 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new position in APA in the second quarter valued at about $57,000. Institutional investors own 83.01% of the company’s stock.

Analysts Set New Price Targets

APA has been the subject of a number of research reports. Susquehanna dropped their target price on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a report on Friday, October 18th. Piper Sandler dropped their price objective on shares of APA from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Evercore ISI decreased their target price on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Mizuho lowered their price target on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Finally, UBS Group cut their price objective on APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, APA currently has an average rating of “Hold” and a consensus price target of $32.57.

APA Trading Down 1.4 %

APA opened at $22.34 on Tuesday. The company has a fifty day moving average price of $24.10 and a two-hundred day moving average price of $27.11. APA Co. has a 1-year low of $21.15 and a 1-year high of $37.82. The company has a market cap of $8.26 billion, a P/E ratio of 3.16 and a beta of 3.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date was Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is currently 14.12%.

APA Company 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.