MeadowBrook Investment Advisors LLC Makes New $874,000 Investment in APA Co. (NASDAQ:APA)

MeadowBrook Investment Advisors LLC acquired a new stake in shares of APA Co. (NASDAQ:APA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,367 shares of the company’s stock, valued at approximately $874,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in APA by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock valued at $1,714,656,000 after purchasing an additional 2,003,862 shares during the last quarter. Smead Capital Management Inc. raised its holdings in shares of APA by 13.6% in the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock valued at $187,866,000 after acquiring an additional 626,460 shares in the last quarter. Clearbridge Investments LLC grew its stake in APA by 1.9% in the 3rd quarter. Clearbridge Investments LLC now owns 2,815,109 shares of the company’s stock worth $115,701,000 after buying an additional 53,241 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in APA by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock worth $104,037,000 after acquiring an additional 24,182 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of APA by 130.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company’s stock valued at $63,037,000 after acquiring an additional 867,257 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Price Performance

Shares of APA traded up $0.25 during trading hours on Tuesday, reaching $30.17. The company had a trading volume of 1,639,976 shares, compared to its average volume of 6,841,411. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 3.35 and a beta of 3.29. APA Co. has a 12-month low of $28.90 and a 12-month high of $46.15. The firm has a 50 day simple moving average of $32.53 and a 200-day simple moving average of $33.91. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42.

APA (NASDAQ:APA) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 EPS. Research analysts expect that APA Co. will post 5.03 earnings per share for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.31%. APA’s dividend payout ratio is currently 11.19%.

Analysts Set New Price Targets

Several research firms recently weighed in on APA. Wells Fargo & Company initiated coverage on APA in a research note on Wednesday, April 24th. They issued an “overweight” rating and a $55.00 price target on the stock. The Goldman Sachs Group decreased their price target on shares of APA from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Tuesday, March 26th. Susquehanna lifted their price target on shares of APA from $54.00 to $57.00 and gave the company a “positive” rating in a research note on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price objective on shares of APA in a research note on Monday, April 8th. Finally, Mizuho lowered their price target on APA from $34.00 to $32.00 and set an “underperform” rating for the company in a report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.20.

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.