Marco Investment Management LLC Has $2.30 Million Position in APA Co. (NASDAQ:APA)

Marco Investment Management LLC grew its holdings in shares of APA Co. (NASDAQ:APA) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,012 shares of the company’s stock after acquiring an additional 2,320 shares during the period. Marco Investment Management LLC’s holdings in APA were worth $2,297,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its position in shares of APA by 28.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock worth $1,193,000 after purchasing an additional 7,461 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in shares of APA by 3.2% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock worth $44,412,000 after purchasing an additional 38,505 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in shares of APA by 14.3% during the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock worth $26,053,000 after purchasing an additional 90,610 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of APA by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock worth $104,037,000 after purchasing an additional 24,182 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of APA during the 4th quarter worth about $11,050,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Price Performance

Shares of NASDAQ APA traded up $0.13 during mid-day trading on Friday, reaching $32.49. 4,801,253 shares of the company were exchanged, compared to its average volume of 6,164,118. APA Co. has a 52 week low of $29.47 and a 52 week high of $46.15. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $9.78 billion, a PE ratio of 3.50 and a beta of 3.27. The company’s 50 day moving average price is $32.55 and its 200 day moving average price is $34.39.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a return on equity of 62.64% and a net margin of 34.95%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The business’s revenue was down 12.3% on a year-over-year basis. Sell-side analysts forecast that APA Co. will post 5.03 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, April 19th. APA’s dividend payout ratio is presently 10.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APA. Mizuho cut their price objective on shares of APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a research report on Friday, March 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target on shares of APA in a research report on Monday, April 8th. Johnson Rice cut shares of APA from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Friday, January 5th. Scotiabank reaffirmed a “sector perform” rating and issued a $37.00 price target (down previously from $43.00) on shares of APA in a research report on Tuesday, January 16th. Finally, Piper Sandler raised their price target on shares of APA from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, APA currently has a consensus rating of “Hold” and a consensus price target of $42.25.

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.