Trexquant Investment LP Lowers Holdings in APA Co. (NASDAQ:APA)

Trexquant Investment LP reduced its position in shares of APA Co. (NASDAQ:APA) by 52.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,469 shares of the company’s stock after selling 105,715 shares during the period. Trexquant Investment LP’s holdings in APA were worth $3,390,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in APA. Vanguard Group Inc. increased its holdings in shares of APA by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock worth $1,714,656,000 after buying an additional 2,003,862 shares during the last quarter. Ameriprise Financial Inc. raised its position in APA by 130.0% during the third quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company’s stock valued at $63,037,000 after purchasing an additional 867,257 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in APA by 1,527.3% during the third quarter. Los Angeles Capital Management LLC now owns 921,662 shares of the company’s stock worth $37,880,000 after purchasing an additional 865,026 shares during the last quarter. Smead Capital Management Inc. boosted its holdings in shares of APA by 13.6% in the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock worth $187,866,000 after purchasing an additional 626,460 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of APA by 8,888.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 549,552 shares of the company’s stock valued at $22,587,000 after purchasing an additional 543,438 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Down 2.0 %

Shares of NASDAQ:APA opened at $29.52 on Friday. The firm has a market capitalization of $10.96 billion, a P/E ratio of 3.30 and a beta of 3.29. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a 50 day moving average price of $32.43 and a 200-day moving average price of $33.10. APA Co. has a 52-week low of $28.90 and a 52-week high of $46.15.

APA (NASDAQ:APA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 EPS. As a group, equities research analysts anticipate that APA Co. will post 4.63 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.39%. APA’s dividend payout ratio is currently 11.19%.

Analysts Set New Price Targets

Several brokerages have issued reports on APA. JPMorgan Chase & Co. upped their target price on APA from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Truist Financial decreased their target price on shares of APA from $59.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. StockNews.com lowered shares of APA from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective on shares of APA in a report on Monday, April 8th. Finally, The Goldman Sachs Group dropped their target price on APA from $35.00 to $31.00 and set a “sell” rating for the company in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.10.

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.