Horizon Advisory Services Inc. Increases Stock Position in APA Co. (NASDAQ:APA)

Horizon Advisory Services Inc. lifted its holdings in shares of APA Co. (NASDAQ:APA) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,181 shares of the company’s stock after acquiring an additional 638 shares during the period. Horizon Advisory Services Inc.’s holdings in APA were worth $211,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sunpointe LLC grew its position in APA by 2.8% in the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock valued at $391,000 after buying an additional 362 shares during the last quarter. GAMMA Investing LLC grew its position in APA by 12.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after buying an additional 380 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after buying an additional 429 shares during the last quarter. Stephens Inc. AR grew its position in APA by 0.9% in the 4th quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock valued at $1,775,000 after buying an additional 436 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in APA by 18.1% in the first quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock valued at $98,000 after acquiring an additional 439 shares during the period. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Trading Up 6.0 %

APA stock opened at $24.53 on Friday. The stock has a market cap of $9.11 billion, a PE ratio of 2.74 and a beta of 3.24. The stock has a 50-day moving average price of $27.56 and a 200 day moving average price of $29.88. APA Co. has a 52 week low of $22.72 and a 52 week high of $43.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. Equities research analysts predict that APA Co. will post 4.04 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.08%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 11.19%.

Analysts Set New Price Targets

APA has been the subject of a number of recent analyst reports. Sanford C. Bernstein reduced their target price on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Citigroup reduced their target price on APA from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, September 9th. JPMorgan Chase & Co. reduced their target price on APA from $36.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Bank of America reissued an “underperform” rating and issued a $31.00 target price on shares of APA in a report on Friday, June 14th. Finally, Truist Financial raised their target price on APA from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, August 2nd. 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. Based on data from MarketBeat.com, APA has an average rating of “Hold” and an average target price of $36.38.

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.