Gateway Investment Advisers LLC Has $244,000 Holdings in APA Co. (NASDAQ:APA)

Gateway Investment Advisers LLC lifted its holdings in APA Co. (NASDAQ:APA) by 35.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,300 shares of the company’s stock after acquiring an additional 2,188 shares during the period. Gateway Investment Advisers LLC’s holdings in APA were worth $244,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of APA. Harris Associates L P grew its stake 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. grew its holdings in shares of APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of APA by 10.6% during 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 purchasing an additional 1,938,335 shares during the last quarter. Webs Creek Capital Management LP bought a new stake in shares of APA during the 1st quarter valued at approximately $28,593,000. Finally, Smead Capital Management Inc. grew its holdings in shares of APA by 13.6% during the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock valued at $187,866,000 after purchasing an additional 626,460 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Down 0.5 %

APA stock traded down $0.13 during midday trading on Friday, reaching $28.32. 4,063,919 shares of the company’s stock traded hands, compared to its average volume of 6,342,209. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 3.17 and a beta of 3.26. The firm’s fifty day moving average price is $29.48 and its 200-day moving average price is $30.87. The company has a quick ratio of 1.16, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. APA Co. has a 52 week low of $26.81 and a 52 week high of $46.15.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. APA’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that APA Co. will post 4.17 earnings per share for the current fiscal year.

APA Announces Dividend

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, July 22nd. APA’s payout ratio is 11.19%.

Wall Street Analyst Weigh In

APA has been the topic of several research reports. Truist Financial lifted their price target on shares of APA from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wolfe Research began coverage on shares of APA in a research report on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price on the stock. Susquehanna boosted their price target on shares of APA from $54.00 to $57.00 and gave the stock a “positive” rating in a research report on Tuesday, May 7th. Barclays dropped their price target on shares of APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, 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. Four research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $38.64.

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.