Webs Creek Capital Management LP Takes $28.59 Million Position in APA Co. (NASDAQ:APA)

Webs Creek Capital Management LP acquired a new stake in APA Co. (NASDAQ:APA) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 831,680 shares of the company’s stock, valued at approximately $28,593,000. APA makes up about 11.6% of Webs Creek Capital Management LP’s portfolio, making the stock its 3rd largest position. Webs Creek Capital Management LP owned approximately 0.22% of APA at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harris Associates L P boosted its holdings in APA by 17.8% during the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after buying an additional 2,367,570 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after acquiring an additional 2,004,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of APA by 10.6% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after acquiring an additional 1,938,335 shares in the last quarter. Smead Capital Management Inc. lifted its position in shares of APA by 13.6% in the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock valued at $187,866,000 after acquiring an additional 626,460 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of APA by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock valued at $66,093,000 after acquiring an additional 345,192 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Stock Performance

NASDAQ:APA traded down $0.11 during midday trading on Thursday, reaching $31.08. The stock had a trading volume of 9,326,087 shares, compared to its average volume of 6,289,438. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $11.54 billion, a P/E ratio of 3.48 and a beta of 3.26. The firm’s fifty day simple moving average is $29.70 and its 200-day simple moving average is $31.00. APA Co. has a 1-year low of $27.17 and a 1-year high of $46.15.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The business’s quarterly revenue was up 41.6% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. On average, equities research analysts forecast that APA Co. will post 4.17 EPS for the current fiscal year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.00 annualized dividend and a yield of 3.22%. APA’s dividend payout ratio is 11.19%.

Analysts Set New Price Targets

APA has been the subject of several research analyst reports. Susquehanna upped their price target on shares of APA from $54.00 to $57.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Truist Financial reduced their price target on shares of APA from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Bank of America restated an “underperform” rating and issued a $31.00 price target on shares of APA in a research report on Friday, June 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 target price on shares of APA in a research report on Wednesday, July 10th. Finally, Piper Sandler increased their target price on shares of APA from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.86.

APA 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.