TT Capital Management LLC Purchases Shares of 10,000 APA Co. (NASDAQ:APA)

TT Capital Management LLC acquired a new stake in shares of APA Co. (NASDAQ:APA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of APA. Bank of New York Mellon Corp boosted its stake in shares of APA by 29.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock valued at $94,500,000 after purchasing an additional 929,770 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of APA by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock worth $297,540,000 after buying an additional 894,574 shares during the period. Invesco Ltd. grew its holdings in APA by 6.9% in the fourth quarter. Invesco Ltd. now owns 13,230,751 shares of the company’s stock worth $305,498,000 after purchasing an additional 850,052 shares during the period. Raymond James Financial Inc. bought a new position in APA during the 4th quarter valued at approximately $14,524,000. Finally, South Dakota Investment Council increased its holdings in shares of APA by 96.6% during the fourth quarter. South Dakota Investment Council now owns 774,245 shares of the company’s stock valued at $17,877,000 after acquiring an additional 380,510 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

APA Price Performance

Shares of NASDAQ:APA opened at $15.04 on Friday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 2.12 and a beta of 2.74. The firm has a fifty day moving average price of $20.09 and a 200 day moving average price of $22.27. APA Co. has a fifty-two week low of $13.58 and a fifty-two week high of $35.25. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). The firm had revenue of $2.50 billion for 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, sell-side analysts expect that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.65%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio is 44.25%.

Analyst Ratings Changes

Several research firms have recently weighed in on APA. Citigroup decreased their price target on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Susquehanna dropped their target price on APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, March 3rd. Scotiabank cut their price target on APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a research note on Friday. Barclays lowered their price objective on shares of APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada cut their target price on shares of APA from $27.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, APA currently has a consensus rating of “Hold” and an average target price of $26.58.

About APA

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.