M&T Bank Corp increased its stake in APA Co. (NASDAQ:APA - Free Report) by 187.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,281 shares of the company's stock after purchasing an additional 36,707 shares during the period. M&T Bank Corp's holdings in APA were worth $1,377,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APA. Citizens Financial Group Inc. RI grew its position in APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company's stock worth $202,000 after purchasing an additional 429 shares during the last quarter. Signaturefd LLC grew its holdings in APA by 7.1% in the 2nd quarter. Signaturefd LLC now owns 7,108 shares of the company's stock worth $209,000 after buying an additional 472 shares in the last quarter. Washington Trust Bank increased its position in APA by 5.9% in the 2nd quarter. Washington Trust Bank now owns 8,794 shares of the company's stock valued at $259,000 after acquiring an additional 492 shares during the period. Empirical Finance LLC raised its stake in APA by 1.6% during the 3rd quarter. Empirical Finance LLC now owns 31,272 shares of the company's stock valued at $765,000 after acquiring an additional 497 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in APA by 16.9% during the 3rd quarter. UMB Bank n.a. now owns 3,556 shares of the company's stock worth $87,000 after acquiring an additional 513 shares during the period. Institutional investors and hedge funds own 83.01% of the company's stock.
APA Trading Down 4.0 %
Shares of APA stock traded down $0.92 during trading on Monday, hitting $21.94. The stock had a trading volume of 6,950,260 shares, compared to its average volume of 6,274,664. 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 has a market capitalization of $8.12 billion, a PE ratio of 3.23 and a beta of 3.18. APA Co. has a 1 year low of $20.95 and a 1 year high of $37.82. The stock has a 50 day simple moving average of $23.51 and a 200 day simple moving average of $26.56.
APA Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA's dividend payout ratio (DPR) is currently 14.12%.
Insider Buying and Selling at APA
In related news, Director Juliet S. Ellis purchased 4,391 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company's stock.
Wall Street Analysts Forecast Growth
APA has been the topic of a number of recent analyst reports. Bernstein Bank cut their price objective on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. Barclays dropped their price target on shares of APA from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Friday, November 8th. Evercore ISI decreased their price objective on shares of APA from $39.00 to $33.00 and set an "in-line" rating for the company in a report on Monday, September 30th. Mizuho dropped their target price on APA from $25.00 to $24.00 and set an "underperform" rating on the stock in a report on Monday. Finally, Truist Financial decreased their price target on APA from $36.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.33.
Get Our Latest Stock Report on APA
APA Company Profile
(
Free Report)
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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