Scissortail Wealth Management LLC Invests $307,000 in APA Co. (NASDAQ:APA)

Scissortail Wealth Management LLC purchased a new position in shares of APA Co. (NASDAQ:APA) in the fourth quarter, Holdings Channel.com reports. The firm purchased 8,546 shares of the company’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HB Wealth Management LLC purchased a new stake in shares of APA during the 3rd quarter worth about $256,000. Ferguson Wellman Capital Management Inc. increased its holdings in shares of APA by 3.2% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock valued at $44,412,000 after acquiring an additional 38,505 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of APA by 14.3% during the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock valued at $26,053,000 after acquiring an additional 90,610 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of APA by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock valued at $104,037,000 after acquiring an additional 24,182 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of APA during the 4th quarter valued at about $11,050,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Price Performance

Shares of APA stock traded up $0.27 during midday trading on Wednesday, hitting $32.77. 627,312 shares of the company were exchanged, compared to its average volume of 6,868,713. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $9.87 billion, a P/E ratio of 3.50 and a beta of 3.27. APA Co. has a 52 week low of $29.47 and a 52 week high of $46.15. The firm has a 50 day simple moving average of $32.25 and a 200-day simple moving average of $34.75.

APA (NASDAQ:APA) last posted its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.18). The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. APA’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.48 EPS. Research analysts forecast that APA Co. will post 4.6 earnings per share for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, April 19th. APA’s dividend payout ratio is currently 10.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APA. Piper Sandler lowered their price objective on APA from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Roth Mkm raised their target price on APA from $37.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Truist Financial lowered their target price on APA from $59.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Mizuho lowered their target price on APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a report on Friday, March 15th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $28.00 target price on shares of APA in a report on Monday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, APA has a consensus rating of “Hold” and an average price target of $41.80.

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.