Wedge Capital Management L L P NC Trims Stake in APA Co. (NASDAQ:APA)

Wedge Capital Management L L P NC trimmed its stake in shares of APA Co. (NASDAQ:APA - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 360,695 shares of the company's stock after selling 45,729 shares during the quarter. Wedge Capital Management L L P NC owned about 0.10% of APA worth $8,328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its holdings in APA by 84.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company's stock worth $29,000 after purchasing an additional 540 shares during the last quarter. Huntington National Bank increased its position in shares of APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company's stock worth $42,000 after purchasing an additional 561 shares during the period. Eastern Bank raised its position in shares of APA by 355.0% in the 4th quarter. Eastern Bank now owns 2,275 shares of the company's stock valued at $53,000 after buying an additional 1,775 shares in the last quarter. Blue Trust Inc. grew its position in APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company's stock worth $63,000 after acquiring an additional 1,604 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in APA in the 2nd quarter worth about $76,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Juliet S. Ellis bought 4,391 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the transaction, the director now directly owns 12,436 shares of the company's stock, valued at $283,292.08. This represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APA. UBS Group decreased their price target on shares of APA from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. The Goldman Sachs Group lowered their target price on APA from $25.00 to $22.00 and set a "sell" rating for the company in a research report on Friday, January 3rd. Evercore ISI decreased their price target on APA from $39.00 to $33.00 and set an "in-line" rating for the company in a research note on Monday, September 30th. Barclays lowered their price objective on APA from $30.00 to $27.00 and set an "equal weight" rating for the company in a research report on Friday, November 8th. Finally, Scotiabank decreased their target price on shares of APA from $30.00 to $27.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, APA presently has an average rating of "Hold" and an average price target of $30.55.

APA Stock Down 3.0 %

Shares of APA traded down $0.75 during trading hours on Friday, reaching $24.40. 9,418,721 shares of the stock traded hands, compared to its average volume of 5,425,373. APA Co. has a 52 week low of $20.32 and a 52 week high of $36.04. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a fifty day simple moving average of $22.62 and a 200 day simple moving average of $25.49. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 3.45 and a beta of 3.16.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA's payout ratio is 14.12%.

APA Company Profile

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.