HITE Hedge Asset Management LLC Takes Position in APA Co. (NASDAQ:APA)

HITE Hedge Asset Management LLC acquired a new position in shares of APA Co. (NASDAQ:APA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 295,916 shares of the company’s stock, valued at approximately $7,238,000. HITE Hedge Asset Management LLC owned approximately 0.08% of APA as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Atria Investments Inc raised its stake in shares of APA by 20.3% during the 1st quarter. Atria Investments Inc now owns 41,684 shares of the company’s stock worth $1,433,000 after buying an additional 7,032 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of APA by 257.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,665 shares of the company’s stock worth $84,000 after buying an additional 1,920 shares during the period. GAMMA Investing LLC increased its holdings in shares of APA by 12.0% in the second quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after buying an additional 380 shares in the last quarter. DNB Asset Management AS increased its stake in shares of APA by 39.3% in the second quarter. DNB Asset Management AS now owns 73,200 shares of the company’s stock worth $2,155,000 after acquiring an additional 20,654 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in APA by 34.4% during the second quarter. Mather Group LLC. now owns 3,757 shares of the company’s stock valued at $111,000 after acquiring an additional 962 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on APA shares. Bernstein Bank reduced their price target on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. Citigroup decreased their price target on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Mizuho decreased their price objective on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Truist Financial lowered their price target 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, Royal Bank of Canada decreased their price target on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.57.

APA Trading Down 1.4 %

Shares of NASDAQ:APA opened at $22.34 on Tuesday. APA Co. has a 1-year low of $21.15 and a 1-year high of $37.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 3.16 and a beta of 3.19. The company has a 50 day moving average price of $24.10 and a 200 day moving average price of $27.11.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Tuesday, October 22nd. APA’s dividend payout ratio is presently 14.12%.

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.