APA Co. (NASDAQ:APA - Get Free Report) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 16,030,000 shares, a decrease of 15.5% from the October 15th total of 18,970,000 shares. Based on an average daily trading volume, of 6,050,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 4.4% of the company's shares are short sold.
Shares of NASDAQ:APA opened at $22.38 on Friday. The business's 50 day moving average is $24.51 and its 200 day moving average is $27.69. The stock has a market cap of $8.28 billion, a P/E ratio of 3.16 and a beta of 3.24. APA has a 52-week low of $21.15 and a 52-week high of $37.82. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.47%. APA's dividend payout ratio is currently 14.12%.
A number of hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd lifted its position in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company's stock worth $38,000 after purchasing an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company's stock worth $40,000 after buying an additional 1,079 shares during the period. Rothschild Investment LLC bought a new stake in APA during the 2nd quarter valued at $42,000. GPS Wealth Strategies Group LLC increased its holdings in shares of APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company's stock valued at $50,000 after acquiring an additional 1,590 shares during the period. Finally, Huntington National Bank raised its position in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company's stock worth $42,000 after acquiring an additional 561 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.
APA has been the topic of a number of recent research reports. Truist Financial cut their price target on shares of APA from $36.00 to $33.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Citigroup reduced their price objective on shares of APA from $32.00 to $29.00 in a research report on Friday, October 18th. JPMorgan Chase & Co. decreased their target price on APA from $29.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday. Bernstein Bank lowered their price objective on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. Finally, Royal Bank of Canada dropped their target price on APA from $34.00 to $32.00 and set a "sector perform" rating on the stock in a report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.95.
Get Our Latest Research Report on 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.
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