APA Co. (NASDAQ:APA) Short Interest Down 7.4% in January

APA Co. (NASDAQ:APA) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 22,260,000 shares, a decrease of 7.4% from the December 31st total of 24,050,000 shares. Currently, 6.2% of the shares of the company are sold short. Based on an average daily volume of 6,270,000 shares, the short-interest ratio is currently 3.6 days.

Analysts Set New Price Targets

APA has been the topic of a number of recent research reports. Bernstein Bank lowered their target price on APA from $30.00 to $28.00 in a research note on Friday, October 18th. Raymond James raised their price objective on shares of APA from $44.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Truist Financial decreased their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group dropped their price target on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of APA in a research report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.65.

APA Price Performance

NASDAQ APA traded down $1.06 during trading hours on Friday, hitting $21.93. 14,807,480 shares of the company’s stock traded hands, compared to its average volume of 5,672,026. The company has a market capitalization of $8.11 billion, a PE ratio of 3.10 and a beta of 3.16. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA has a 52-week low of $20.32 and a 52-week high of $36.04. The firm’s 50-day moving average is $22.83 and its 200-day moving average is $25.12.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.56%. APA’s dividend payout ratio is presently 14.12%.

Insider Activity

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On APA

A number of institutional investors have recently added to or reduced their stakes in APA. Atria Wealth Solutions Inc. increased its stake in shares of APA by 104.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 45,171 shares of the company’s stock worth $1,043,000 after acquiring an additional 23,027 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of APA by 6.1% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 1,532,360 shares of the company’s stock valued at $35,382,000 after purchasing an additional 88,656 shares during the period. Venturi Wealth Management LLC increased its position in APA by 596.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,124 shares of the company’s stock worth $49,000 after purchasing an additional 1,819 shares during the last quarter. D.A. Davidson & CO. purchased a new position in APA during the fourth quarter worth about $487,000. Finally, Sanctuary Advisors LLC boosted its holdings in APA by 23.9% in the 4th quarter. Sanctuary Advisors LLC now owns 14,468 shares of the company’s stock valued at $333,000 after purchasing an additional 2,790 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.