Intellectus Partners LLC Reduces Position in APA Co. (NASDAQ:APA)

Intellectus Partners LLC decreased its holdings in APA Co. (NASDAQ:APA) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,800 shares of the company’s stock after selling 750 shares during the period. Intellectus Partners LLC’s holdings in APA were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Brown Brothers Harriman & Co. grew its position in shares of APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after purchasing an additional 1,077 shares in the last quarter. Riverview Trust Co grew its holdings in APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after buying an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after buying an additional 586 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of APA in the 4th quarter worth $35,000. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of APA during the 4th quarter worth $42,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

APA has been the subject of a number of analyst reports. Royal Bank of Canada dropped their price objective on shares of APA from $27.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Susquehanna dropped their price target on shares of APA from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Barclays cut their price target on shares of APA from $25.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Argus upgraded APA to a “hold” rating in a report on Friday, May 16th. Finally, Scotiabank cut their target price on APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.21.

APA Stock Performance

Shares of APA stock opened at $18.50 on Friday. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 2.61 and a beta of 1.18. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day moving average of $16.57 and a 200 day moving average of $20.18. APA Co. has a 12 month low of $13.58 and a 12 month high of $33.41.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.83 by $0.23. APA had a net margin of 24.36% and a return on equity of 27.86%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, sell-side analysts forecast that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 5.41%. APA’s dividend payout ratio (DPR) is 35.97%.

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.