Modern Wealth Management LLC Acquires Shares of 13,156 APA Co. (NASDAQ:APA)

Modern Wealth Management LLC purchased a new stake in shares of APA Co. (NASDAQ:APA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,156 shares of the company's stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TD Private Client Wealth LLC lifted its holdings in APA by 84.1% during the third 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 period. Riverview Trust Co raised its position in shares of APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company's stock worth $30,000 after acquiring an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of 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 purchasing an additional 586 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in APA during the fourth quarter valued at about $35,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in APA by 93.5% in 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 last quarter. 83.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APA has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price target on shares of APA from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. UBS Group decreased their target price on shares of APA from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $23.00 price target on shares of APA in a report on Wednesday, March 19th. Barclays decreased their price objective on APA from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, March 18th. Finally, Susquehanna lowered their price objective on APA from $33.00 to $31.00 and set a "positive" rating for the company in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, APA currently has a consensus rating of "Hold" and an average target price of $28.25.

APA Stock Performance

APA traded up $0.11 during midday trading on Tuesday, hitting $21.13. 5,874,659 shares of the company were exchanged, compared to its average volume of 6,473,826. The company's 50 day simple moving average is $21.46 and its 200 day simple moving average is $22.87. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 2.98 and a beta of 3.26. APA Co. has a 1-year low of $17.66 and a 1-year high of $36.05. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. As a group, sell-side analysts predict that APA Co. will post 4.03 earnings per share for the current year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Tuesday, April 22nd. APA's dividend payout ratio is currently 44.25%.

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.