Clifford Swan Investment Counsel LLC Decreases Stock Holdings in APA Co. (NASDAQ:APA)

Clifford Swan Investment Counsel LLC trimmed its stake in shares of APA Co. (NASDAQ:APA) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,372 shares of the company’s stock after selling 344 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in APA were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APA. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of APA in the third quarter valued at $34,000. Quent Capital LLC increased its position in APA by 64.0% during the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after purchasing an additional 375 shares during the period. Rakuten Securities Inc. purchased a new position in APA during the 4th quarter valued at about $34,000. Tobam bought a new stake in shares of APA in the 4th quarter valued at about $52,000. Finally, CVA Family Office LLC bought a new stake in shares of APA in the 4th quarter valued at about $56,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on APA shares. Roth Mkm lifted their target price on shares of APA from $37.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Scotiabank reissued a “sector perform” rating and issued a $37.00 price target (down previously from $43.00) on shares of APA in a report on Tuesday, January 16th. Morgan Stanley reissued an “underweight” rating and issued a $28.00 price target on shares of APA in a report on Monday, April 15th. Raymond James cut their price target on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Finally, Truist Financial cut their price target on shares of APA from $59.00 to $53.00 and set a “buy” rating for the company in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, APA currently has a consensus rating of “Hold” and an average price target of $42.05.

APA Price Performance

Shares of APA stock traded up $0.66 during midday trading on Monday, hitting $29.92. 6,304,207 shares of the company were exchanged, compared to its average volume of 6,902,599. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $9.01 billion, a P/E ratio of 3.35 and a beta of 3.29. APA Co. has a 52 week low of $28.90 and a 52 week high of $46.15. The firm has a 50 day simple moving average of $32.52 and a 200-day simple moving average of $34.01.

APA (NASDAQ:APA) last posted its earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business earned $1.19 EPS. APA’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts forecast that APA Co. will post 5.03 earnings per share for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a yield of 3.34%. APA’s dividend payout ratio is 11.19%.

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.