Quinn Opportunity Partners LLC Raises Stock Position in APA Co. (NASDAQ:APA)

Quinn Opportunity Partners LLC raised its holdings in APA Co. (NASDAQ:APA) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 290,327 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Quinn Opportunity Partners LLC owned 0.08% of APA worth $6,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APA. Brown Brothers Harriman & Co. boosted its stake in shares of APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after buying an additional 1,077 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares during the period. Riverview Trust Co boosted its position in APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after purchasing an additional 586 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of APA during the 4th quarter valued at approximately $35,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APA has been the topic of a number of recent analyst reports. Susquehanna lowered their price target on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, March 3rd. Morgan Stanley set a $22.00 target price on shares of APA and gave the stock an “underweight” rating in a research note on Wednesday, March 26th. Citigroup dropped their target price on APA from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of APA in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $23.00 price objective on shares of APA in a report on Wednesday, March 19th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.68.

APA Stock Down 12.6 %

APA stock opened at $14.60 on Friday. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 2.06 and a beta of 2.74. The firm has a 50-day moving average of $20.24 and a two-hundred day moving average of $22.33. APA Co. has a 12 month low of $13.58 and a 12 month high of $35.25. 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 (NASDAQ:APA) last issued its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. As a group, analysts forecast that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 6.85%. APA’s dividend payout ratio (DPR) is 44.25%.

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.