Transcendent Capital Group LLC Invests $66,000 in APA Co. (NASDAQ:APA)

Transcendent Capital Group LLC bought a new stake in APA Co. (NASDAQ:APA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,838 shares of the company’s stock, valued at approximately $66,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pathstone Family Office LLC acquired a new position in APA in the 3rd quarter valued at $435,000. Greenleaf Trust bought a new stake in APA during the third quarter worth about $200,000. Deutsche Bank AG grew its stake in APA by 10.3% during the third quarter. Deutsche Bank AG now owns 691,595 shares of the company’s stock worth $28,425,000 after buying an additional 64,821 shares in the last quarter. Rhumbline Advisers increased its holdings in APA by 0.3% in the 3rd quarter. Rhumbline Advisers now owns 615,754 shares of the company’s stock valued at $25,307,000 after buying an additional 2,050 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of APA in the 3rd quarter valued at approximately $212,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Performance

APA stock traded down $0.75 during mid-day trading on Friday, hitting $27.82. The company had a trading volume of 9,514,786 shares, compared to its average volume of 5,333,219. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $10.33 billion, a PE ratio of 3.11 and a beta of 3.24. APA Co. has a 12 month low of $27.36 and a 12 month high of $46.15. The stock’s fifty day moving average price is $30.88 and its two-hundred day moving average price is $32.24.

APA (NASDAQ:APA) last released its earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 earnings per share. On average, analysts forecast that APA Co. will post 4.58 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.59%. APA’s dividend payout ratio is currently 11.19%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Mizuho lifted their target price on APA from $34.00 to $35.00 and gave the company an “underperform” rating in a research report on Tuesday, May 21st. Evercore ISI downgraded shares of APA from an “outperform” rating to an “inline” rating and dropped their price objective for the company from $52.00 to $39.00 in a research note on Friday. Roth Mkm boosted their target price on shares of APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group dropped their price target on APA from $35.00 to $31.00 and set a “sell” rating for the company in a research note on Tuesday, March 26th. Finally, Truist Financial reduced their price objective on APA from $59.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Four analysts have rated the stock with a sell rating, eleven have assigned 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, the stock presently has a consensus rating of “Hold” and an average price target of $40.52.

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.