Pictet Asset Management Holding SA Increases Stake in APA Co. (NASDAQ:APA)

Pictet Asset Management Holding SA boosted its stake in shares of APA Co. (NASDAQ:APA) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 145,235 shares of the company’s stock after purchasing an additional 3,265 shares during the period. Pictet Asset Management Holding SA’s holdings in APA were worth $3,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of APA. TD Private Client Wealth LLC grew its holdings in shares of APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after buying an additional 540 shares during the last quarter. Riverview Trust Co lifted 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 purchasing an additional 586 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in APA during the 4th quarter valued at about $35,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of APA by 93.5% in 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 during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Down 14.4 %

Shares of NASDAQ APA opened at $15.18 on Friday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 2.14 and a beta of 2.73. The company’s 50-day simple moving average is $21.14 and its 200-day simple moving average is $22.75. 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 Co. has a 52-week low of $14.86 and a 52-week high of $36.05.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. Equities analysts predict that APA Co. will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The company 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.59%. 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

APA has been the topic of a number of recent research reports. The Goldman Sachs Group reiterated a “sell” rating and issued a $23.00 target price on shares of APA in a research report on Wednesday, March 19th. Raymond James downgraded shares of APA from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $45.00 to $32.00 in a report on Monday, March 10th. Wells Fargo & Company reduced their target price on shares of APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Morgan Stanley set a $22.00 price target on shares of APA and gave the company an “underweight” rating in a report on Wednesday, March 26th. Finally, UBS Group reduced their price objective on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.68.

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.