Gladstone Institutional Advisory LLC Takes Position in APA Co. (NASDAQ:APA)

Gladstone Institutional Advisory LLC acquired a new stake in shares of APA Co. (NASDAQ:APA) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,730 shares of the company’s stock, valued at approximately $214,000.

Other large investors have also made changes to their positions in the company. Covestor Ltd raised its position in APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC acquired a new position in APA in the second quarter worth about $42,000. GPS Wealth Strategies Group LLC raised its position in APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new position in APA in the second quarter worth about $57,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA stock opened at $23.57 on Wednesday. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 2.57 and a beta of 3.24. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50-day simple moving average of $25.39 and a 200 day simple moving average of $28.25. APA Co. has a 52 week low of $22.72 and a 52 week high of $40.30.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is 10.91%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price target on shares of APA in a research report on Tuesday, September 17th. Bernstein Bank dropped their price objective on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Piper Sandler dropped their price objective on shares of APA from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Susquehanna decreased their price target on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.18.

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.