Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of APA Co. (NASDAQ:APA - Free Report) by 30.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 672,978 shares of the company's stock after buying an additional 158,476 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of APA worth $15,761,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in APA. Korea Investment CORP increased its position in shares of APA by 68.3% in the fourth quarter. Korea Investment CORP now owns 346,943 shares of the company's stock valued at $8,011,000 after buying an additional 140,800 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in APA by 83.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 723,376 shares of the company's stock worth $16,703,000 after acquiring an additional 328,213 shares during the last quarter. Modern Wealth Management LLC acquired a new position in APA during the fourth quarter worth about $302,000. LPL Financial LLC lifted its holdings in shares of APA by 45.2% in the fourth quarter. LPL Financial LLC now owns 265,054 shares of the company's stock valued at $6,120,000 after purchasing an additional 82,453 shares in the last quarter. Finally, Samalin Investment Counsel LLC acquired a new stake in shares of APA in the fourth quarter valued at approximately $307,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on APA from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Mizuho cut their price target on APA from $25.00 to $24.00 and set an "underperform" rating for the company in a report on Monday, December 16th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $23.00 price objective on shares of APA in a research note on Wednesday, March 19th. Morgan Stanley set a $22.00 target price on shares of APA and gave the company an "underweight" rating in a research note on Wednesday, March 26th. Finally, Barclays reduced their target price on shares of APA from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 18th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, APA presently has a consensus rating of "Hold" and an average price target of $27.68.
Read Our Latest Report on APA
APA Trading Down 14.4 %
Shares of APA stock traded down $2.56 on Friday, reaching $15.18. 19,921,606 shares of the stock were exchanged, compared to its average volume of 6,537,422. APA Co. has a 1-year low of $14.86 and a 1-year high of $36.05. The stock has a market cap of $5.53 billion, a P/E ratio of 2.14 and a beta of 2.73. 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 moving average of $21.14 and a two-hundred day moving average of $22.74.
APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 EPS 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. On average, research analysts anticipate that APA Co. will post 4.03 EPS for the current year.
APA Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. 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 6.59%. APA's dividend payout ratio (DPR) is 44.25%.
About APA
(
Free Report)
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.
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