Smead Capital Management Inc. Boosts Stock Holdings in APA Co. (NASDAQ:APA)

Smead Capital Management Inc. raised its holdings in shares of APA Co. (NASDAQ:APA - Free Report) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,667,452 shares of the company's stock after buying an additional 326,042 shares during the period. APA comprises 3.4% of Smead Capital Management Inc.'s portfolio, making the stock its 15th largest holding. Smead Capital Management Inc. owned 2.61% of APA worth $236,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APA. Russell Investments Group Ltd. increased its stake in shares of APA by 67.7% in the first quarter. Russell Investments Group Ltd. now owns 123,843 shares of the company's stock worth $4,257,000 after purchasing an additional 50,016 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of APA in the first quarter worth $256,000. Vanguard Group Inc. increased its stake in shares of APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company's stock worth $1,535,001,000 after purchasing an additional 2,004,555 shares in the last quarter. Covestor Ltd increased its stake in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company's stock worth $38,000 after purchasing an additional 470 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in shares of APA by 678.8% in the first quarter. UniSuper Management Pty Ltd now owns 32,919 shares of the company's stock worth $1,132,000 after purchasing an additional 28,692 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Trading Down 2.4 %

APA stock traded down $0.54 during trading on Tuesday, hitting $21.92. The company had a trading volume of 7,200,143 shares, compared to its average volume of 6,270,996. The firm has a market capitalization of $8.11 billion, a P/E ratio of 3.10 and a beta of 3.24. APA Co. has a 52-week low of $21.15 and a 52-week high of $37.82. The company has a 50 day simple moving average of $24.42 and a 200-day simple moving average of $27.55. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA's dividend payout ratio is presently 14.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of APA from $36.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Barclays dropped their target price on shares of APA from $30.00 to $27.00 and set an "equal weight" rating for the company in a research report on Friday, November 8th. Bernstein Bank dropped their target price on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their target price on shares of APA from $29.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. Finally, Susquehanna dropped their target price on shares of APA from $52.00 to $48.00 and set a "positive" rating for the company in a research report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $32.81.

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.