Pilgrim Partners Asia Pte Ltd Takes $55,000 Position in APA Co. (NASDAQ:APA)

by · The Cerbat Gem

Pilgrim Partners Asia Pte Ltd acquired a new position in APA Co. (NASDAQ:APA – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,380 shares of the company’s stock, valued at approximately $55,000.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on APA. Barclays cut their price objective on APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Wells Fargo & Company reduced their price target on shares of APA from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $23.00 price objective on shares of APA in a report on Wednesday, March 19th. Morgan Stanley set a $22.00 target price on APA and gave the stock an “underweight” rating in a report on Wednesday, March 26th. Finally, Piper Sandler dropped their price target on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Four 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 stock. Based on data from MarketBeat.com, APA has an average rating of “Hold” and a consensus price target of $27.68.

Read Our Latest Stock Report on APA

APA Price Performance

APA opened at $15.18 on Friday. The company has a fifty day moving average price of $21.14 and a two-hundred day moving average price of $22.75. The firm has a market capitalization of $5.53 billion, a PE ratio of 2.14 and a beta of 2.73. 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 Co. has a 52 week low of $14.86 and a 52 week high of $36.05.

APA (NASDAQ:APA – Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. As a group, analysts anticipate that APA Co. will post 4.03 earnings per share for the current year.

APA Announces Dividend

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

About APA

(Free Report)

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.

Further Reading

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