swisspartners Advisors Ltd Boosts Its Investment in APA Co.

swisspartners Advisors Ltd announced an increase in its stake in APA Co. (NASDAQ:APA - Free Report) by 19.6% in the third quarter. This was revealed in their recent filing with the Securities and Exchange Commission. Following the addition of 33,770 shares during the quarter, the firm now holds a total of 206,370 shares of APA. This investment constitutes about 3.9% of swisspartners Advisors Ltd's overall portfolio, making APA their 13th largest investment. As of the end of the latest reporting period, the value of their holdings in APA amounts to approximately $5,048,000, which translates to 0.06% of the company's stock.

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Several other institutional investors have also adjusted their positions in APA recently. Wealth Enhancement Advisory Services LLC increased their stake in APA shares by 35.3% in the first quarter, bringing their total ownership to 14,945 shares valued at $514,000 after acquiring an additional 3,902 shares. Allspring Global Investments Holdings LLC also raised their position in APA by 49.0% during the first quarter, now holding 27,769 shares worth $955,000 after purchasing an extra 9,133 shares. Similarly, Sumitomo Mitsui Trust Holdings Inc. slightly grew its stake by 0.8%, bringing their total to 744,263 shares valued at $25,588,000 after acquiring an additional 6,002 shares. Norden Group LLC took a new position in APA, investing approximately $355,000 in the first quarter. Furthermore, Maryland State Retirement & Pension System increased their holdings in APA by 20.4%, now owning 28,522 shares worth $920,000 after acquiring an additional 4,839 shares. Overall, institutional investors and hedge funds hold a substantial 83.01% of APA's stock.

Recent Trading Activity

On Friday, APA shares traded down by 2.2%, reaching a price of $23.09. The trading volume for the day reached 5,213,460 shares, compared to the average volume of 6,152,375 shares. Currently, APA Co. has a market capitalization of $8.54 billion, a price-to-earnings ratio of 2.52, and a beta of 3.23. The stock's one-year low is noted at $22.72, while the one-year high is $40.93. The fifty-day moving average price stands at $25.50, and the two-hundred day moving average price is $28.37. The company currently has a current ratio of 1.01, a quick ratio of 1.01, and a debt-to-equity ratio of 1.04.

In its latest quarterly earnings report released on Wednesday, July 31st, APA reported earnings of $1.17 per share (EPS), surpassing analysts' expectations of $0.95 by $0.22. The revenue for the quarter was recorded at $2.54 billion, which is higher than the expected $2.28 billion. The company recorded a net margin of 32.66% and a return on equity of 35.95%. This revenue represents a significant increase of 41.6% year-over-year. The previous year, during the same quarter, APA had earnings of $0.85 EPS. Analysts predict APA Co. will post a total of 4.01 EPS for the current fiscal year.

Upcoming Dividend Payment

APA recently announced a quarterly dividend, which is set to be paid on Friday, November 22nd. Shareholders recorded on Tuesday, October 22nd, will receive a dividend of $0.25. The ex-dividend date is also on Tuesday, October 22nd. This translates to an annualized dividend of $1.00, resulting in a yield of 4.33%. The current payout ratio stands at 10.91%.

Analyst Ratings Update

Research analysts have recently provided updates regarding APA. Evercore ISI decreased their price target for APA from $39.00 to $33.00, while maintaining an "in-line" rating for the stock in a report dated September 30th. Royal Bank of Canada maintained a "sector perform" rating and set a price target of $41.00 on APA shares in a note released on September 17th. Sanford C. Bernstein lowered their price target from $37.00 to $30.00 and rated the stock as "market perform" on July 17th. Wolfe Research began coverage on APA shares on July 18th, issuing an "outperform" rating and establishing a price target of $42.00. Bernstein Bank also revised their price target down from $30.00 to $28.00 in a report issued on October 18th. To date, four analysts have issued a sell rating, eleven have given a hold rating, six have rated it as buy, and one analyst has issued a strong buy recommendation. Based on information from MarketBeat, APA currently holds an average rating of "Hold" and has a consensus target price of $34.18.

Know More About APA

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. The company operates in the United States, Egypt, and the North Sea, and is also involved in exploration and appraisal activities in Suriname, holding interests in various projects located in Uruguay and other international regions.

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