Douglas Lane & Associates LLC Has $10.85 Million Position in APA Co. (NASDAQ:APA)

Douglas Lane & Associates LLC reduced its stake in APA Co. (NASDAQ:APA - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 469,943 shares of the company's stock after selling 77,257 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.13% of APA worth $10,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harris Associates L P increased its stake in shares of APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company's stock worth $609,414,000 after purchasing an additional 4,293,932 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in APA by 12.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company's stock worth $745,341,000 after buying an additional 3,411,270 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of APA by 131.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company's stock worth $141,704,000 after buying an additional 2,736,041 shares during the last quarter. Mizuho Securities USA LLC boosted its position in shares of APA by 3,450.8% in the third quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company's stock valued at $24,115,000 after acquiring an additional 958,141 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company's stock worth $42,092,000 after acquiring an additional 767,557 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on APA. Susquehanna cut their target price on shares of APA from $52.00 to $48.00 and set a "positive" rating for the company in a research note on Friday, October 18th. Royal Bank of Canada cut their price objective on shares of APA from $34.00 to $32.00 and set a "sector perform" rating for the company in a research report on Monday, November 11th. Barclays decreased their target price on APA from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Friday, November 8th. UBS Group lowered their price target on APA from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. Finally, Citigroup reduced their price objective on APA from $29.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, APA presently has an average rating of "Hold" and a consensus price target of $30.55.

Insider Activity

In other news, Director Juliet S. Ellis acquired 4,391 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the transaction, the director now owns 12,436 shares of the company's stock, valued at approximately $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

APA Price Performance

Shares of APA traded up $0.02 on Thursday, hitting $23.68. The company's stock had a trading volume of 4,305,914 shares, compared to its average volume of 5,216,663. The company has a market capitalization of $8.76 billion, a PE ratio of 3.34 and a beta of 3.16. APA Co. has a fifty-two week low of $20.32 and a fifty-two week high of $36.04. The company has a 50 day moving average price of $22.44 and a 200 day moving average price of $25.73. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Wednesday, January 22nd. APA's payout ratio is presently 14.12%.

APA 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.