APA Co. (NASDAQ:APA) Sees Significant Increase in Short Interest

APA Co. (NASDAQ:APA) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 20,460,000 shares, an increase of 7.5% from the November 15th total of 19,030,000 shares. Based on an average daily trading volume, of 6,440,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 5.7% of the company’s stock are sold short.

Insider Buying and Selling at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares in the company, valued at $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC boosted its holdings in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares during the period. Rothschild Investment LLC bought a new stake in shares of APA in the second quarter valued at approximately $42,000. Huntington National Bank grew its position in APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after buying an additional 561 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after acquiring an additional 1,604 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Down 4.0 %

APA stock opened at $21.94 on Tuesday. APA has a twelve month low of $20.95 and a twelve month high of $37.82. The stock has a market cap of $8.12 billion, a P/E ratio of 3.10 and a beta of 3.18. The company’s 50-day moving average price is $23.41 and its two-hundred day moving average price is $26.51. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 4.56%. APA’s payout ratio is currently 14.12%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APA. Truist Financial cut their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Barclays cut their price target on shares of APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, November 8th. Mizuho decreased their price objective on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday. Bernstein Bank lowered their target price on APA from $30.00 to $28.00 in a research report on Friday, October 18th. Finally, UBS Group reduced their price target on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.33.

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.