Quintet Private Bank Europe S.A. Reduces Stake in APA Co. (NASDAQ:APA)

Quintet Private Bank Europe S.A. lessened its holdings in shares of APA Co. (NASDAQ:APA - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,602 shares of the company's stock after selling 15,000 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in APA were worth $360,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC lifted its stake in APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company's stock worth $745,341,000 after purchasing an additional 3,411,270 shares during the last quarter. Harris Associates L P lifted its position in APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company's stock valued at $609,414,000 after purchasing an additional 4,293,932 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in APA by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company's stock valued at $293,312,000 after purchasing an additional 485,291 shares during the last quarter. Smead Capital Management Inc. lifted its position in APA by 3.5% in the third quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company's stock valued at $236,466,000 after purchasing an additional 326,042 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in APA by 2.5% in the third quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company's stock valued at $226,928,000 after purchasing an additional 224,547 shares during the last quarter. Institutional investors own 83.01% of the company's stock.

APA Stock Performance

APA traded down $0.03 on Wednesday, reaching $18.54. The stock had a trading volume of 14,014,160 shares, compared to its average volume of 8,072,458. APA Co. has a 12-month low of $17.66 and a 12-month high of $36.04. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The business's 50-day moving average price is $22.80 and its two-hundred day moving average price is $23.79. The company has a market cap of $6.86 billion, a P/E ratio of 2.62 and a beta of 3.26.

APA (NASDAQ:APA - Get Free Report) last posted 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). The business had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. Sell-side analysts forecast that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.39%. APA's dividend payout ratio is currently 44.25%.

Insider Transactions at APA

In other news, Director Juliet S. Ellis purchased 4,391 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the transaction, the director now owns 12,436 shares of the company's stock, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. The Goldman Sachs Group lowered their price target on APA from $25.00 to $22.00 and set a "sell" rating for the company in a research report on Friday, January 3rd. UBS Group decreased their price target on APA from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. Citigroup reduced their price objective on APA from $29.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price target on APA from $29.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Finally, Piper Sandler reduced their price target on shares of APA from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, APA currently has an average rating of "Hold" and an average price target of $29.80.

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.