Short Interest in APA Co. (NASDAQ:APA) Declines By 7.4%

APA Co. (NASDAQ:APA) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totalling 22,260,000 shares, a drop of 7.4% from the December 15th total of 24,050,000 shares. Approximately 6.2% of the company’s stock are short sold. Based on an average daily trading volume, of 6,270,000 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on APA. Piper Sandler cut their target price on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Bernstein Bank reduced their price objective on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. Truist Financial dropped their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group decreased their price objective on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, January 3rd. Finally, Scotiabank cut their target price on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, APA has a consensus rating of “Hold” and a consensus price target of $30.55.

Insider Activity at APA

In other news, Director Juliet S. Ellis purchased 4,391 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the acquisition, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On APA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in shares of APA by 22.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company’s stock valued at $1,503,000 after purchasing an additional 12,077 shares during the last quarter. Segment Wealth Management LLC grew its position in APA by 1.1% during the fourth quarter. Segment Wealth Management LLC now owns 54,938 shares of the company’s stock valued at $1,269,000 after buying an additional 571 shares during the period. Wealthquest Corp increased its holdings in APA by 14.9% during the fourth quarter. Wealthquest Corp now owns 177,241 shares of the company’s stock worth $4,093,000 after buying an additional 23,041 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in APA by 93.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after acquiring an additional 780 shares during the period. Finally, M.E. Allison & CO. Inc. purchased a new position in APA in the fourth quarter valued at about $351,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Down 3.0 %

APA stock traded down $0.75 during midday trading on Friday, reaching $24.40. The stock had a trading volume of 9,418,721 shares, compared to its average volume of 5,425,373. The company has a fifty day moving average price of $22.62 and a two-hundred day moving average price of $25.52. The company has a market capitalization of $9.03 billion, a P/E ratio of 3.45 and a beta of 3.16. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 12 month low of $20.32 and a 12 month high of $36.04.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s payout ratio is currently 14.12%.

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.