APA Co. (NASDAQ:APA) Short Interest Down 7.4% in December

APA Co. (NASDAQ:APA) was the target of a large drop in short interest in the month of 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. Based on an average daily trading volume, of 6,270,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 6.2% of the company’s stock are sold short.

APA Price Performance

Shares of APA opened at $24.40 on Monday. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 3.45 and a beta of 3.16. The stock’s fifty day moving average is $22.62 and its 200-day moving average is $25.49. APA has a one year low of $20.32 and a one year high of $36.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Wednesday, January 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

Insider Activity at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now directly owns 12,436 shares in the company, valued at approximately $283,292.08. This represents a 54.58 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in shares of APA by 22.8% during 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 last quarter. Segment Wealth Management LLC lifted its stake 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 in the last quarter. Wealthquest Corp boosted its holdings in shares of APA by 14.9% in 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 period. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 in the last quarter. Finally, M.E. Allison & CO. Inc. acquired a new stake in shares of APA during the fourth quarter valued at approximately $351,000. Institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on APA. Bernstein Bank dropped their price objective on APA from $30.00 to $28.00 in a report on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price target on shares of APA in a research note on Wednesday, January 15th. Mizuho cut their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday, December 16th. Truist Financial decreased their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Evercore ISI reduced their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.55.

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.