Payden & Rygel Makes New Investment in APA Co. (NASDAQ:APA)

Payden & Rygel purchased a new stake in shares of APA Co. (NASDAQ:APA) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 49,500 shares of the company’s stock, valued at approximately $1,143,000.

Several other institutional investors have also modified their holdings of the company. Cerity Partners LLC increased its position in APA by 25.5% in the 3rd quarter. Cerity Partners LLC now owns 28,710 shares of the company’s stock valued at $702,000 after acquiring an additional 5,842 shares during the period. Townsquare Capital LLC bought a new position in shares of APA in the third quarter worth $231,000. Glenmede Trust Co. NA increased its holdings in shares of APA by 8.6% during the third quarter. Glenmede Trust Co. NA now owns 9,803 shares of the company’s stock valued at $240,000 after purchasing an additional 775 shares during the period. Public Sector Pension Investment Board lifted its holdings in APA by 3.0% in the third quarter. Public Sector Pension Investment Board now owns 64,279 shares of the company’s stock worth $1,572,000 after purchasing an additional 1,900 shares during the period. Finally, Chevy Chase Trust Holdings LLC grew its position in APA by 0.9% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 198,327 shares of the company’s stock valued at $4,851,000 after buying an additional 1,772 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Down 14.4 %

APA stock opened at $15.18 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA Co. has a 12-month low of $14.86 and a 12-month high of $36.05. The company has a 50 day moving average of $21.14 and a two-hundred day moving average of $22.75. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 2.14 and a beta of 2.73.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. On average, equities analysts anticipate that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s dividend payout ratio is 44.25%.

Analysts Set New Price Targets

APA has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $23.00 price target on shares of APA in a research note on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price target on APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Raymond James downgraded APA from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $45.00 to $32.00 in a research note on Monday, March 10th. Citigroup decreased their target price on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Piper Sandler reduced their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.68.

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.