Empowered Funds LLC Reduces Stock Holdings in APA Co. (NASDAQ:APA)

Empowered Funds LLC lessened its stake in APA Co. (NASDAQ:APA - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 119,931 shares of the company's stock after selling 30,008 shares during the quarter. Empowered Funds LLC's holdings in APA were worth $2,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APA. Sanctuary Advisors LLC purchased a new stake in APA in the 2nd quarter worth $308,000. Exchange Traded Concepts LLC purchased a new stake in APA in the 3rd quarter worth $88,000. Vontobel Holding Ltd. increased its holdings in APA by 9.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 191,616 shares of the company's stock worth $4,687,000 after acquiring an additional 16,230 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of APA by 67.7% during the third quarter. nVerses Capital LLC now owns 27,500 shares of the company's stock worth $673,000 after buying an additional 11,100 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of APA by 2.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,644 shares of the company's stock worth $847,000 after buying an additional 952 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Trading Up 2.9 %

NASDAQ APA traded up $0.65 during trading hours on Monday, reaching $23.14. The company had a trading volume of 7,881,814 shares, compared to its average volume of 6,460,765. The stock has a 50-day moving average of $22.86 and a 200 day moving average of $24.34. APA Co. has a 1-year low of $20.32 and a 1-year 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 market capitalization of $8.56 billion, a P/E ratio of 3.27 and a beta of 3.15.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.32%. APA's payout ratio is currently 14.12%.

Insider Buying and Selling at APA

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of APA stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $22.78 per share, with a total value of $100,026.98. Following the completion of the transaction, the director now owns 12,436 shares of the company's stock, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

APA has been the subject of a number of research reports. Truist Financial dropped their target price on shares of APA from $36.00 to $33.00 and set a "buy" rating for the company in a report on Friday, November 8th. Piper Sandler dropped their target price on shares of APA from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, December 17th. Citigroup dropped their target price on shares of APA from $29.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, November 26th. Barclays dropped their target price on shares of APA from $30.00 to $27.00 and set an "equal weight" rating for the company in a report on Friday, November 8th. Finally, Wells Fargo & Company lowered shares of APA from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $42.00 to $25.00 in a report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $30.65.

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.