Rakuten Securities Inc. Acquires New Position in APA Co. (NASDAQ:APA)

Rakuten Securities Inc. acquired a new stake in shares of APA Co. (NASDAQ:APA) during the 4th quarter, Holdings Channel reports. The fund acquired 949 shares of the company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also modified their holdings of APA. Covestor Ltd increased its position in APA by 117.8% during the first quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after purchasing an additional 437 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in APA during the third quarter worth approximately $34,000. Quent Capital LLC increased its position in APA by 64.0% during the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after purchasing an additional 375 shares during the last quarter. Money Concepts Capital Corp increased its position in APA by 228.6% during the fourth quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock worth $34,000 after purchasing an additional 503 shares during the last quarter. Finally, Quarry LP increased its position in APA by 2,535.1% during the first quarter. Quarry LP now owns 975 shares of the company’s stock worth $35,000 after purchasing an additional 938 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Price Performance

Shares of APA stock opened at $32.43 on Friday. The company has a market capitalization of $9.76 billion, a PE ratio of 3.49 and a beta of 3.27. The firm has a fifty day simple moving average of $32.32 and a 200-day simple moving average of $34.72. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. APA Co. has a twelve month low of $29.47 and a twelve month high of $46.15.

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

APA Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.08%. APA’s dividend payout ratio (DPR) is 10.78%.

Wall Street Analysts Forecast Growth

APA has been the subject of several research analyst reports. Piper Sandler dropped their price target on shares of APA from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Roth Mkm increased their price objective on shares of APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. increased their price objective on shares of APA from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Susquehanna dropped their price objective on shares of APA from $53.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Finally, StockNews.com raised shares of APA from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.80.

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.