Investment Management Corp of Ontario Sells 48,211 Shares of APA Co. (NASDAQ:APA)

Investment Management Corp of Ontario reduced its stake in shares of APA Co. (NASDAQ:APA - Free Report) by 79.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,298 shares of the company's stock after selling 48,211 shares during the period. Investment Management Corp of Ontario's holdings in APA were worth $301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its stake in APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company's stock valued at $40,000 after acquiring an additional 1,079 shares during the period. Rothschild Investment LLC acquired a new stake in APA in the second quarter worth $42,000. Huntington National Bank increased its position 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 buying an additional 561 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company's stock valued at $50,000 after acquiring an additional 1,590 shares during the period. Finally, Blue Trust Inc. grew its position in shares of APA by 164.2% during the third 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. Institutional investors own 83.01% of the company's stock.

APA Stock Performance

Shares of APA traded up $0.98 during midday trading on Monday, reaching $22.40. 4,449,662 shares of the stock were exchanged, compared to its average volume of 6,264,663. The stock's 50 day simple moving average is $23.84 and its 200 day simple moving average is $26.80. The company has a market cap of $8.29 billion, a P/E ratio of 3.03 and a beta of 3.19. APA Co. has a twelve month low of $20.95 and a twelve month high of $37.82. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date was Tuesday, October 22nd. APA's dividend payout ratio is currently 14.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on APA shares. JPMorgan Chase & Co. cut their price target on APA from $29.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. Evercore ISI cut their target price on shares of APA from $39.00 to $33.00 and set an "in-line" rating for the company in a research note on Monday, September 30th. Mizuho reduced their price objective on APA from $35.00 to $28.00 and set an "underperform" rating for the company in a research report on Monday, September 16th. Truist Financial cut their price objective on APA from $36.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, Bernstein Bank reduced their target price on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $32.57.

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.