swisspartners Advisors Ltd Boosts Holdings in APA Co. (NASDAQ:APA)

swisspartners Advisors Ltd has raised its stake in APA Co. (NASDAQ:APA - Free Report) by 19.6% during the third quarter, as reported in its latest filing with the Securities and Exchange Commission. Following this increase, the firm now holds 206,370 shares of APA, having acquired an additional 33,770 shares in the past quarter. This investment represents approximately 3.9% of swisspartners Advisors Ltd's overall portfolio, marking it as the firm's 13th largest holding. At the conclusion of the most recent reporting period, the value of their investment in APA stood at $5,048,000, accounting for 0.06% of the company’s total shares.

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Additionally, several other institutional investors have recently adjusted their positions in APA. For instance, Wealth Enhancement Advisory Services LLC increased its stake by 35.3% in the first quarter, now holding 14,945 shares worth $514,000 after adding 3,902 shares. Allspring Global Investments Holdings LLC also raised its position in APA by 49.0%, attaining 27,769 shares valued at $955,000 after purchasing 9,133 additional shares. Moreover, Sumitomo Mitsui Trust Holdings Inc. grew its investment by 0.8%, bringing its total to 744,263 shares worth $25,588,000. In the first quarter, Norden Group LLC entered a new position in APA valued at around $355,000, while Maryland State Retirement & Pension System increased its holdings by 20.4%, now owning 28,522 shares valued at $920,000 after acquiring an additional 4,839 shares. Overall, institutional investors and hedge funds control 83.01% of APA's shares.

Current Stock Performance

On Friday, APA's stock saw a decrease of 2.2%, trading down $0.51 to reach $23.09. A total of 5,213,460 shares changed hands, slightly below its average volume of 6,152,375. Currently, APA has a market capitalization of $8.54 billion, a price-to-earnings (PE) ratio of 2.52, and a beta of 3.23. The stock reached a low of $22.72 and a high of $40.93 over the past year. Its 50-day moving average price is $25.50, while the 200-day moving average price stands at $28.37. The current ratio and quick ratio are both at 1.01, with a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA - Get Free Report) recently published its quarterly earnings on July 31st, reporting earnings per share (EPS) of $1.17, surpassing analysts' expectations of $0.95 by $0.22. The company's revenue amounted to $2.54 billion for the quarter, which exceeded the consensus estimate of $2.28 billion. APA's net margin was recorded at 32.66%, alongside a return on equity of 35.95%. Year-over-year, the revenue for the quarter increased by 41.6%, and last year during the same quarter, the company posted an EPS of $0.85. Analysts predict that APA Co. will report earnings of 4.01 per share for the current fiscal year.

Dividend Information

The company also announced a quarterly dividend of $0.25, set to be paid on Friday, November 22nd. Shareholders recorded on Tuesday, October 22nd will receive this dividend. The ex-dividend date is also scheduled for October 22nd. This equates to an annualized dividend of $1.00, showing a yield of 4.33% with a payout ratio of 10.91%.

Analyst Ratings Review

Recent analysis from various investment firms has led to changes in ratings for APA shares. Evercore ISI has cut its price target for the stock from $39.00 to $33.00 while maintaining an "in-line" rating. Royal Bank of Canada reaffirmed a "sector perform" rating with a price target of $41.00. Similarly, Sanford C. Bernstein lowered its target from $37.00 to $30.00 while designating a "market perform" rating. Wolfe Research began coverage on APA with an "outperform" rating, setting a target price of $42. Finally, Bernstein Bank reduced its price target from $30.00 to $28.00. Presently, four analysts have a sell rating on the stock, eleven have hold ratings, six have buy ratings, and one has indicated a strong buy. Data from MarketBeat reveals an average rating of "Hold" with a consensus price target of $34.18.

About APA Corporation

APA Corporation is an independent energy company engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. Its operations extend across the United States, Egypt, and the North Sea, with additional exploration activities in Suriname and interests in projects in Uruguay and internationally.

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