Griffin Asset Management Inc. Lowers Holdings in APA Co. (NASDAQ:APA)

Griffin Asset Management Inc. cut its position in shares of APA Co. (NASDAQ:APA - Free Report) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,407 shares of the company's stock after selling 16,930 shares during the quarter. Griffin Asset Management Inc.'s holdings in APA were worth $3,080,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in APA. TD Private Client Wealth LLC boosted its stake in shares of APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company's stock worth $29,000 after buying an additional 540 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in APA by 93.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company's stock valued at $37,000 after purchasing an additional 780 shares during the period. Huntington National Bank lifted its stake in 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 last quarter. Eastern Bank lifted its holdings in APA by 355.0% during 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. Finally, Blue Trust Inc. raised its holdings in shares of APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company's stock valued at $63,000 after purchasing an additional 1,604 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

APA Price Performance

NASDAQ APA traded down $0.04 during trading on Tuesday, hitting $23.34. 5,279,185 shares of the stock traded hands, compared to its average volume of 6,431,636. APA Co. has a 12-month low of $20.32 and a 12-month high of $36.04. The company has a market capitalization of $8.63 billion, a P/E ratio of 3.30 and a beta of 3.16. 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 firm has a 50-day simple moving average of $22.79 and a 200-day simple moving average of $25.26.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.28%. APA's payout ratio is currently 14.12%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APA. Piper Sandler reduced 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. UBS Group lowered their price target on APA from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Monday, December 9th. The Goldman Sachs Group decreased their price target on shares of APA from $25.00 to $22.00 and set a "sell" rating for the company in a research report on Friday, January 3rd. Scotiabank cut their target price on APA from $30.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Finally, Bernstein Bank lowered their price objective on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $30.65.

Insider Buying and Selling at APA

In related news, Director Juliet S. Ellis bought 4,391 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the acquisition, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This represents a 54.58 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

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.