Frank Rimerman Advisors LLC Acquires New Holdings in APA Co. (NASDAQ:APA)

Frank Rimerman Advisors LLC acquired a new stake in shares of APA Co. (NASDAQ:APA) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,975 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in shares of APA by 22.8% in the fourth 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 period. US Bancorp DE raised its position in shares of APA by 2.2% in the fourth quarter. US Bancorp DE now owns 47,719 shares of the company’s stock valued at $1,102,000 after purchasing an additional 1,010 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of APA by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock valued at $293,312,000 after purchasing an additional 485,291 shares during the period. Baader Bank Aktiengesellschaft raised its position in shares of APA by 175.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company’s stock valued at $543,000 after purchasing an additional 14,980 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in shares of APA in the third quarter valued at approximately $7,238,000. Institutional investors own 83.01% of the company’s stock.

APA Stock Up 2.1 %

Shares of NASDAQ:APA opened at $20.03 on Tuesday. APA Co. has a 52 week low of $17.66 and a 52 week high of $36.05. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The company’s fifty day moving average is $22.22 and its 200-day moving average is $23.23. The company has a market capitalization of $7.29 billion, a PE ratio of 2.83 and a beta of 3.26.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. Equities research analysts predict that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.99%. APA’s dividend payout ratio is presently 44.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group dropped their price target on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Piper Sandler dropped their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Raymond James lowered shares of APA from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $45.00 to $32.00 in a research report on Monday, March 10th. Susquehanna dropped their target price on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $28.70.

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.