Entropy Technologies LP Takes Position in APA Co. (NASDAQ:APA)

Entropy Technologies LP bought a new position in shares of APA Co. (NASDAQ:APA) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 32,860 shares of the company’s stock, valued at approximately $759,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APA. Sanctuary Advisors LLC bought a new position in APA during the second quarter valued at $308,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of APA by 357.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,200 shares of the company’s stock worth $78,000 after acquiring an additional 2,500 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of APA during the 3rd quarter worth $88,000. Wedge Capital Management L L P NC increased its holdings in APA by 4.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 406,424 shares of the company’s stock worth $9,941,000 after acquiring an additional 16,455 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in APA by 9.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 191,616 shares of the company’s stock valued at $4,687,000 after acquiring an additional 16,230 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the purchase, the director now directly owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APA. Wells Fargo & Company downgraded shares of APA from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Truist Financial lowered their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of APA in a report on Thursday, January 23rd. UBS Group decreased their price objective on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Susquehanna cut their target price on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.65.

APA Stock Up 1.4 %

Shares of NASDAQ:APA opened at $23.31 on Wednesday. The firm has a fifty day moving average of $22.79 and a 200 day moving average of $24.57. APA Co. has a 52-week low of $20.32 and a 52-week high of $36.04. 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 firm has a market capitalization of $8.62 billion, a PE ratio of 3.29 and a beta of 3.15.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.29%. APA’s dividend payout ratio (DPR) is presently 14.12%.

APA Profile

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.