Readystate Asset Management LP Increases Stake in APA Co. (NASDAQ:APA)

Readystate Asset Management LP grew its position in shares of APA Co. (NASDAQ:APA) by 52.4% in the fourth quarter, Holdings Channel reports. The fund owned 24,145 shares of the company’s stock after buying an additional 8,300 shares during the quarter. Readystate Asset Management LP’s holdings in APA were worth $866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Lido Advisors LLC boosted its position in shares of APA by 1.2% during the 3rd quarter. Lido Advisors LLC now owns 21,901 shares of the company’s stock valued at $900,000 after acquiring an additional 266 shares during the last quarter. DNB Asset Management AS lifted its position in APA by 0.6% in the fourth quarter. DNB Asset Management AS now owns 49,846 shares of the company’s stock worth $1,788,000 after buying an additional 308 shares during the last quarter. HB Wealth Management LLC lifted its position in APA by 5.0% in the fourth quarter. HB Wealth Management LLC now owns 6,528 shares of the company’s stock worth $234,000 after buying an additional 309 shares during the last quarter. Horizon Investments LLC lifted its position in APA by 7.1% in the second quarter. Horizon Investments LLC now owns 4,902 shares of the company’s stock worth $166,000 after buying an additional 323 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in APA by 30.7% in the second quarter. Harbour Investments Inc. now owns 1,453 shares of the company’s stock worth $50,000 after buying an additional 341 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Stock Up 0.5 %

APA traded up $0.17 on Thursday, hitting $32.43. The company had a trading volume of 5,679,121 shares, compared to its average volume of 6,927,484. The stock has a fifty day moving average price of $32.32 and a 200-day moving average price of $34.72. APA Co. has a 12-month low of $29.47 and a 12-month high of $46.15. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 3.49 and a beta of 3.27.

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

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, April 19th. APA’s dividend payout ratio is presently 10.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Mizuho lowered their price target on APA from $36.00 to $34.00 and set an “underperform” rating for the company in a research report on Friday, March 15th. Susquehanna lowered their price target on APA from $53.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Roth Mkm raised their price target on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. StockNews.com upgraded APA from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of APA in a research report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.80.

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.