Sumitomo Mitsui Trust Group Inc. lifted its position in APA Co. (NASDAQ:APA - Free Report) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,119,648 shares of the company's stock after purchasing an additional 93,409 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.30% of APA worth $25,853,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its position in APA by 22.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company's stock valued at $1,503,000 after acquiring an additional 12,077 shares during the period. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 485,291 shares during the period. Baader Bank Aktiengesellschaft grew its position in APA by 175.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company's stock valued at $543,000 after acquiring an additional 14,980 shares during the period. HITE Hedge Asset Management LLC bought a new stake in APA in the third quarter valued at $7,238,000. Finally, Victory Capital Management Inc. grew its position in APA by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company's stock valued at $30,852,000 after acquiring an additional 149,762 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other APA news, Director Juliet S. Ellis bought 4,391 shares of APA stock in a transaction that occurred on Thursday, December 12th. The stock was acquired 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 directly owns 12,436 shares in the company, valued at $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.
APA Stock Performance
NASDAQ:APA traded up $0.65 during trading hours on Friday, reaching $23.14. The stock had a trading volume of 7,881,814 shares, compared to its average volume of 6,460,765. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day simple moving average of $22.84 and a 200 day simple moving average of $24.45. APA Co. has a 12-month low of $20.32 and a 12-month high of $36.04. The stock has a market cap of $8.56 billion, a P/E ratio of 3.27 and a beta of 3.15.
APA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA's dividend payout ratio (DPR) is presently 14.12%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on APA. Raymond James upped their price target on APA from $44.00 to $45.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 23rd. Wells Fargo & Company cut APA from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $42.00 to $25.00 in a report on Tuesday, December 17th. Piper Sandler cut their target price on APA from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 17th. Truist Financial cut their target price on APA from $36.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Finally, Mizuho cut their target price on APA from $25.00 to $24.00 and set an "underperform" rating on the stock in a research note on Monday, December 16th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $30.65.
Read Our Latest Analysis on APA
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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