Cowa LLC Grows Stake in APA Co. (NASDAQ:APA)

Cowa LLC boosted its stake in APA Co. (NASDAQ:APA) by 23.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,600 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Cowa LLC’s holdings in APA were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of APA. Norden Group LLC acquired a new stake in APA during the 1st quarter worth $355,000. Janney Montgomery Scott LLC grew its stake in APA by 10.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 106,633 shares of the company’s stock valued at $3,666,000 after acquiring an additional 10,218 shares in the last quarter. Nordea Investment Management AB raised its holdings in APA by 10.7% in the 1st quarter. Nordea Investment Management AB now owns 44,864 shares of the company’s stock valued at $1,536,000 after acquiring an additional 4,330 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in APA by 18.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock worth $1,673,000 after purchasing an additional 7,580 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of APA by 64.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 9,903 shares of the company’s stock worth $340,000 after purchasing an additional 3,895 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Performance

NASDAQ APA opened at $21.77 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $8.05 billion, a P/E ratio of 2.37 and a beta of 3.24. The stock has a 50-day moving average of $24.94 and a two-hundred day moving average of $28.04. APA Co. has a 1-year low of $21.15 and a 1-year high of $38.27.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is currently 10.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APA shares. Sanford C. Bernstein reduced their price objective on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Truist Financial reduced their price target on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday. UBS Group dropped their price objective on shares of APA from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Citigroup reduced their target price on shares of APA from $32.00 to $29.00 in a research note on Friday, October 18th. Finally, The Goldman Sachs Group dropped their price target on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.91.

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.