APA Co. (NASDAQ:APA) Sees Large Increase in Short Interest

APA Co. (NASDAQ:APA) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 20,460,000 shares, a growth of 7.5% from the November 15th total of 19,030,000 shares. Based on an average daily trading volume, of 6,440,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 5.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APA shares. Citigroup cut their price target on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Royal Bank of Canada reduced their price objective on shares of APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. The Goldman Sachs Group dropped their target price on shares of APA from $26.00 to $25.00 in a report on Friday, October 18th. UBS Group decreased their price target on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Wells Fargo & Company dropped their price objective on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, APA presently has an average rating of “Hold” and an average price target of $32.52.

APA Trading Down 0.3 %

APA stock opened at $22.86 on Monday. The company has a market capitalization of $8.46 billion, a PE ratio of 3.23 and a beta of 3.18. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA has a 12 month low of $20.95 and a 12 month high of $37.82. The firm’s 50-day moving average is $23.51 and its 200 day moving average is $26.56.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Wednesday, January 22nd. APA’s dividend payout ratio is presently 14.12%.

Insider Activity

In other APA news, Director Juliet S. Ellis bought 4,391 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the transaction, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. TD Private Client Wealth LLC raised its stake in APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of APA in the 2nd quarter worth $42,000. Huntington National Bank lifted its stake in shares of APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in APA by 164.2% during the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after purchasing an additional 1,604 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

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.