Concentric Capital Strategies LP Takes $2.31 Million Position in APA Co. (NASDAQ:APA)

Concentric Capital Strategies LP bought a new position in APA Co. (NASDAQ:APA) during the third quarter, Holdings Channel reports. The firm bought 94,551 shares of the company’s stock, valued at approximately $2,313,000.

Several other large investors have also added to or reduced their stakes in APA. Sunpointe LLC boosted its holdings in APA by 2.8% during the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after acquiring 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 worth $105,000 after purchasing an additional 380 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of APA by 6.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after buying an additional 429 shares in the last quarter. Signaturefd LLC boosted its stake in shares of APA by 7.1% in the 2nd quarter. Signaturefd LLC now owns 7,108 shares of the company’s stock worth $209,000 after buying an additional 472 shares during the last quarter. Finally, Washington Trust Bank grew its holdings in shares of APA by 5.9% in the second quarter. Washington Trust Bank now owns 8,794 shares of the company’s stock valued at $259,000 after acquiring an additional 492 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Trading Down 1.4 %

Shares of APA stock opened at $22.34 on Tuesday. The company has a market capitalization of $8.26 billion, a PE ratio of 3.16 and a beta of 3.24. APA Co. has a 52-week low of $21.15 and a 52-week high of $37.82. The business’s fifty day moving average is $24.10 and its 200 day moving average is $27.11. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. APA’s dividend payout ratio (DPR) is presently 14.12%.

Analysts Set New Price Targets

A number of analysts recently commented on APA shares. Royal Bank of Canada dropped their price target on APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Susquehanna cut their price target on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. UBS Group decreased 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 Monday, November 18th. Scotiabank reduced their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their price target on shares of APA from $26.00 to $25.00 in a report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $32.57.

About APA

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.