Connor Clark & Lunn Investment Management Ltd. Makes New $996,000 Investment in APA Co. (NASDAQ:APA)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in APA Co. (NASDAQ:APA) during the 4th quarter, HoldingsChannel reports. The firm purchased 43,136 shares of the company’s stock, valued at approximately $996,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Van ECK Associates Corp raised its position in APA by 0.6% in the fourth quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock worth $1,780,000 after acquiring an additional 469 shares in the last quarter. TD Private Client Wealth LLC increased its stake in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in APA by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock worth $3,070,000 after purchasing an additional 544 shares in the last quarter. Segment Wealth Management LLC increased its stake in APA by 1.1% in the 4th quarter. Segment Wealth Management LLC now owns 54,938 shares of the company’s stock worth $1,269,000 after purchasing an additional 571 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after purchasing an additional 586 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Stock Down 1.2 %

Shares of APA stock opened at $20.57 on Friday. APA Co. has a 12 month low of $17.66 and a 12 month high of $36.05. The firm has a market cap of $7.49 billion, a PE ratio of 2.91 and a beta of 3.26. The stock has a 50 day moving average of $22.03 and a 200-day moving average of $23.14. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. On average, equities analysts predict that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.86%. APA’s payout ratio is 44.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APA. UBS Group dropped their price target on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Wells Fargo & Company cut APA from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $42.00 to $25.00 in a research note on Tuesday, December 17th. Barclays lowered their target price on APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Piper Sandler lowered their target price on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Finally, Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $45.00 to $32.00 in a research note on Monday, March 10th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.60.

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.