Hartford Financial Management Inc. Raises Holdings in APA Co. (NASDAQ:APA)

Hartford Financial Management Inc. increased its holdings in APA Co. (NASDAQ:APA) by 21.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,486 shares of the company’s stock after acquiring an additional 807 shares during the period. Hartford Financial Management Inc.’s holdings in APA were worth $110,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its stake in shares of APA by 35.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,945 shares of the company’s stock valued at $514,000 after acquiring an additional 3,902 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in APA by 49.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,769 shares of the company’s stock valued at $955,000 after buying an additional 9,133 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in APA by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 744,263 shares of the company’s stock valued at $25,588,000 after buying an additional 6,002 shares in the last quarter. Norden Group LLC acquired a new stake in APA in the first quarter valued at $355,000. Finally, Maryland State Retirement & Pension System raised its stake in APA by 20.4% in the first quarter. Maryland State Retirement & Pension System now owns 28,522 shares of the company’s stock valued at $920,000 after buying an additional 4,839 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Price Performance

Shares of APA opened at $23.60 on Friday. APA Co. has a twelve month low of $22.72 and a twelve month high of $40.93. The stock’s 50 day moving average is $25.61 and its two-hundred day moving average is $28.44. The firm has a market capitalization of $8.73 billion, a PE ratio of 2.57 and a beta of 3.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 41.6% compared to the same quarter last year. Research analysts anticipate that APA Co. will post 4.01 earnings per share for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio is presently 10.91%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Scotiabank cut their price target on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Susquehanna cut their price target on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Evercore ISI cut their price target on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Barclays cut their price target on APA from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Finally, Bernstein Bank cut their price target on APA from $30.00 to $28.00 in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.18.

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.