September 19, 2023
APA Co. (NASDAQ:APA), an oil and gas exploration and production company, experienced a significant drop in short interest during the month of August. According to recent data, short interest in APA decreased by 7.1%, with a total of 7,610,000 shares being shorted as of August 31st compared to 8,190,000 shares on August 15th. Approximately 2.5% of the company’s shares are currently being sold short. The days-to-cover ratio is presently 1.7 days based on an average daily volume of 4,420,000 shares.
Several research analysts have recently released reports on APA’s stock. Piper Sandler raised their price objective on APA from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on August 14th. UBS Group also lifted their price target from $35.00 to $53.00 and assigned a “neutral” rating to APA’s stock on August 17th. On August 18th, Morgan Stanley raised their price target from $37.00 to $38.00 and assigned an “equal weight” rating to the company’s stock. Meanwhile, Raymond James reduced their price target from $53.00 to $51.00 but maintained a “strong-buy” rating for APA in their research report on July 24th.
Furthermore, StockNews.com initiated coverage on APA on August 23rd by giving it a “hold” rating. Overall, two investment analysts rated the stock as sell while six rated it as hold and seven gave it a buy rating or higher according to Bloomberg data as of September 19th.
Recent changes have also been observed in the positions held by several hedge funds regarding APA’s business activities. Cetera Advisors LLC increased its holdings in APA by acquiring an additional 228 shares, representing a 1.8% increase in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. saw a 3.1% increase in their stake in APA during the fourth quarter, owning 8,024 shares worth $375,000. Quadrant Capital Group LLC increased their stake by 7.0% during the second quarter, now holding 3,852 shares valued at $132,000. SVB Wealth LLC also saw an increase of 1.8% in their stake during the fourth quarter with 14,408 shares valued at $673,000. Finally, Vontobel Holding Ltd. holds 34,086 shares after acquiring an additional 281 shares during the first quarter.
In terms of dividends, APA recently declared a quarterly dividend to be paid on November 22nd to stockholders of record on October 23rd. The dividend payout is set at $0.25 per share with an ex-dividend date of October 20th. This represents an annualized dividend of $1.00 and a dividend yield of 2.34%. APA’s current dividend payout ratio stands at 21.41%.
In conclusion, APA Co.’s short interest has experienced a notable drop in August, and research analysts have varied opinions on its stock with a consensus rating of “Hold.” Hedge funds have made adjustments to their positions in the company while APA continues to provide dividends to its stockholders.
Disclaimer: The information provided here does not constitute financial advice nor should it be interpreted as such. Please consult with your financial advisor before making any investment decisions based on the content provided above.
Iovance Biotherapeutics, Inc.
IOVA
Neutral
Updated on: 27/09/2023
Weak 
Debt to equity ratio: Neutral 
APA Announces Quarterly Dividend Payment and Strong Financial Standing
APA, the well-known firm in the market, has recently announced its quarterly dividend payment, which is scheduled to be disbursed on Wednesday, November 22nd. Shareholders who are marked as record holders on Monday, October 23rd will be entitled to receive a dividend of $0.25 per share. It is worth noting that the ex-dividend date for this particular dividend falls on Friday, October 20th. The annualized dividend stands at $1.00 per share with a dividend yield of 2.34%. As of now, APA’s dividend payout ratio stands at 21.41%.
As we delve deeper into APA’s stock performance, we find that shares of APA stock opened at $42.71 on Tuesday. Looking at the company’s financial situation, it possesses a debt-to-equity ratio of 3.29 and both its current ratio and quick ratio stand at 0.99. In terms of market capitalization, APA currently holds an impressive figure of $13.12 billion.
Analyzing further data regarding APA’s financials and valuation metrics, we find that the company has a price-to-earnings (PE) ratio of 9.15 along with a price-to-earnings-growth (PEG) ratio of 8.17 indicating potential growth prospects in relation to its earnings performance over time. Additionally, APA demonstrates a beta value of 3.53.
Taking into account recent market trends and movements in APA’s stock price, we observe that the company recorded a 50-day moving average of $41.88 while maintaining a two-hundred day moving average figure of $37.27.
Switching gears to highlight significant financial milestones achieved by APA during the recent quarter; on Thursday, August 3rd, the firm reported an impressive earnings per share (EPS) value amounting to $0.85 for the quarter, surpassing analysts’ consensus estimate by $0.19. It is worth noting that the company generated a revenue of $1.80 billion, exceeding expected revenues of $1.74 billion.
With regards to profitability indicators, it is noteworthy that APA registered a net margin of 16.14% along with an impressive return on equity (ROE) figure of 117.05%. However, it is important to mention that the firm’s quarterly revenue witnessed a downtrend, declining by 41.2% compared to the previous year. In the same quarter of the prior year, APA managed to earn an earnings per share of $2.37.
Looking ahead to potential future developments for APA, industry analysts predict an EPS value of 4.42 for the current year.
In conclusion, APA presents itself as a notable firm in the market with a strong financial standing and consistent dividend payments to its shareholders. While market conditions are always subject to change, APA’s recent performance suggests potential growth opportunities in the near future. Investors would be wise to closely monitor developments within this company as well as broader market trends that could influence its trajectory.
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