Geode Capital Management LLC Boosts Stock Holdings in APA Co. (NASDAQ:APA)

Geode Capital Management LLC lifted its holdings in shares of APA Co. (NASDAQ:APA - Free Report) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,507,956 shares of the company's stock after purchasing an additional 200,770 shares during the quarter. Geode Capital Management LLC owned 2.57% of APA worth $219,016,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Brown Brothers Harriman & Co. lifted its position in shares of APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock worth $27,000 after purchasing an additional 1,077 shares during the period. TD Private Client Wealth LLC boosted its position in shares of APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company's stock valued at $29,000 after buying an additional 540 shares during the last quarter. Riverview Trust Co lifted its stake in APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company's stock valued at $30,000 after acquiring an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company's stock worth $31,000 after acquiring an additional 586 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of APA in the 4th quarter worth $35,000. Institutional investors own 83.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group reissued a "sell" rating and set a $23.00 target price on shares of APA in a research report on Wednesday, March 19th. Barclays dropped their target price on shares of APA from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $32.00 price target on shares of APA in a report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price objective on APA from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler dropped their price target on APA from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, APA has an average rating of "Hold" and an average price target of $27.68.

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APA Stock Down 13.8 %

Shares of NASDAQ APA traded down $2.30 during mid-day trading on Thursday, hitting $14.41. 16,473,911 shares of the stock traded hands, compared to its average volume of 6,686,762. APA Co. has a 52 week low of $13.58 and a 52 week high of $35.25. The stock has a fifty day moving average price of $20.37 and a 200-day moving average price of $22.41. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 2.04 and a beta of 2.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.31 billion. Research analysts anticipate that APA Co. will post 4.03 EPS for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA's payout ratio is currently 44.25%.

About APA

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.