Raymond James Financial Inc. Makes New $14.52 Million Investment in APA Co. (NASDAQ:APA)

Raymond James Financial Inc. purchased a new stake in shares of APA Co. (NASDAQ:APA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 629,004 shares of the company’s stock, valued at approximately $14,524,000.

Several other hedge funds have also made changes to their positions in APA. Brown Brothers Harriman & Co. raised its stake in APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after purchasing an additional 1,077 shares during the period. Riverview Trust Co boosted its position in APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after acquiring an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB grew its stake in APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after acquiring an additional 586 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of APA in the 4th quarter valued at about $35,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in APA by 93.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock valued at $37,000 after purchasing an additional 780 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Down 3.8 %

Shares of APA stock opened at $15.50 on Tuesday. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 2.19 and a beta of 2.74. APA Co. has a 1 year low of $13.58 and a 1 year high of $33.41. The company’s fifty day simple moving average is $19.27 and its 200-day simple moving average is $21.84. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA) last released its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.31 billion. As a group, sell-side analysts expect that APA Co. will post 4.03 EPS for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.45%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is presently 44.25%.

Wall Street Analyst Weigh In

APA has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of APA from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Scotiabank reduced their price target on APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Citigroup cut their price objective on shares of APA from $20.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Raymond James lowered shares of APA from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $45.00 to $32.00 in a research note on Monday, March 10th. Finally, Susquehanna decreased their price objective on shares of APA from $33.00 to $31.00 and set a “positive” rating for the company in a report on Monday, March 3rd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.21.

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.