Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in APA Co. (NASDAQ:APA)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in APA Co. (NASDAQ:APA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,136 shares of the company’s stock, valued at approximately $996,000.

Several other hedge funds have also recently bought and sold shares of APA. GSA Capital Partners LLP purchased a new stake in shares of APA during the third quarter valued at approximately $281,000. Natixis Advisors LLC raised its stake in shares of APA by 15.1% during the third quarter. Natixis Advisors LLC now owns 101,334 shares of the company’s stock valued at $2,478,000 after purchasing an additional 13,266 shares during the period. Swiss National Bank raised its stake in shares of APA by 0.4% during the third quarter. Swiss National Bank now owns 1,101,492 shares of the company’s stock valued at $26,942,000 after purchasing an additional 4,800 shares during the period. Quest Partners LLC purchased a new stake in shares of APA during the third quarter valued at approximately $344,000. Finally, Pathstone Holdings LLC raised its stake in shares of APA by 2.7% during the third quarter. Pathstone Holdings LLC now owns 68,074 shares of the company’s stock valued at $1,665,000 after purchasing an additional 1,771 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA opened at $20.57 on Friday. APA Co. has a 1 year low of $17.66 and a 1 year high of $36.05. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 2.91 and a beta of 3.26. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average of $22.03 and a 200-day moving average of $23.14.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.31 billion. As a group, equities analysts anticipate that APA Co. will post 4.03 earnings per share for the current year.

APA Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on APA shares. Susquehanna dropped their price objective on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, March 3rd. Mizuho decreased their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on shares of APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Barclays decreased their price target on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, UBS Group decreased their price target on shares of APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.60.

APA Company 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.