Harbor Capital Advisors Inc. Boosts Stake in APA Co. (NASDAQ:APA)

Harbor Capital Advisors Inc. increased its position in APA Co. (NASDAQ:APA) by 112.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 31,465 shares of the company’s stock after purchasing an additional 16,689 shares during the period. Harbor Capital Advisors Inc.’s holdings in APA were worth $770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in APA. Covestor Ltd lifted its holdings in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after purchasing an additional 1,079 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of APA in the 2nd quarter valued at about $42,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after purchasing an additional 1,590 shares during the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new stake in APA during the 2nd quarter valued at approximately $57,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on APA. Sanford C. Bernstein reduced their price objective on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Wells Fargo & Company reduced their price objective on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Piper Sandler reduced their price objective on APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. UBS Group reduced their price objective on APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Finally, Mizuho reduced their price objective on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, APA has a consensus rating of “Hold” and an average price target of $34.18.

APA Price Performance

APA stock opened at $24.73 on Thursday. APA Co. has a 1 year low of $22.72 and a 1 year high of $38.65. 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 stock’s 50 day moving average price is $25.30 and its 200 day moving average price is $28.19. The firm has a market cap of $9.15 billion, a P/E ratio of 2.64 and a beta of 3.24.

APA Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is currently 10.91%.

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.