Wedmont Private Capital Buys 4,771 Shares of APA Co. (NASDAQ:APA)

Wedmont Private Capital increased its stake in shares of APA Co. (NASDAQ:APA) by 63.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,234 shares of the company’s stock after purchasing an additional 4,771 shares during the quarter. Wedmont Private Capital’s holdings in APA were worth $367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. American National Bank grew its position in shares of APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after buying an additional 490 shares during the period. Rakuten Securities Inc. bought a new stake in shares of APA during the 4th quarter valued at $34,000. Principal Securities Inc. acquired a new position in shares of APA in the 4th quarter valued at $39,000. Covestor Ltd boosted its position in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in shares of APA during the fourth quarter worth $44,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Down 0.9 %

Shares of NASDAQ:APA traded down $0.27 during trading on Tuesday, hitting $28.92. 3,901,571 shares of the company were exchanged, compared to its average volume of 6,313,189. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 3.23 and a beta of 3.26. The company has a current ratio of 1.01, a quick ratio of 1.16 and a debt-to-equity ratio of 1.04. APA Co. has a fifty-two week low of $26.81 and a fifty-two week high of $46.15. The firm has a fifty day moving average price of $29.48 and a two-hundred day moving average price of $30.85.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, research analysts anticipate that APA Co. will post 4.17 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Analyst Upgrades and Downgrades

APA has been the topic of several analyst reports. StockNews.com lowered APA from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Bank of America reiterated an “underperform” rating and issued a $31.00 price target on shares of APA in a research report on Friday, June 14th. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price objective on shares of APA in a report on Wednesday, July 10th. Wells Fargo & Company reduced their price target on shares of APA from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Finally, Susquehanna upped their price objective on shares of APA from $54.00 to $57.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.64.

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.