Washington Trust Bank Grows Stock Position in APA Co. (NASDAQ:APA)

Washington Trust Bank grew its position in APA Co. (NASDAQ:APA) by 34.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,449 shares of the company’s stock after acquiring an additional 2,931 shares during the quarter. Washington Trust Bank’s holdings in APA were worth $264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Private Client Wealth LLC lifted its position in shares of APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares in the last quarter. Riverview Trust Co lifted its position in APA by 5,718.2% during the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after buying an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in APA by 77.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after buying an additional 586 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in APA by 93.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after buying an additional 780 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in APA by 86.8% during the fourth quarter. Rothschild Investment LLC now owns 2,087 shares of the company’s stock worth $48,000 after buying an additional 970 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

APA has been the topic of a number of analyst reports. Wells Fargo & Company downgraded APA from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $42.00 to $25.00 in a research report on Tuesday, December 17th. Raymond James downgraded APA from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $45.00 to $32.00 in a research report on Monday, March 10th. Barclays cut their target price on APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. UBS Group cut their target price on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Citigroup cut their target price on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $28.60.

APA Trading Up 0.2 %

APA opened at $20.61 on Friday. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 2.91 and a beta of 3.26. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day moving average price of $21.97 and a 200 day moving average price of $23.06. APA Co. has a 12 month low of $17.66 and a 12 month high of $36.05.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. Sell-side analysts expect that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is 44.25%.

APA Company 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.