Wellington Management Group LLP Trims Stock Position in APA Co. (NASDAQ:APA)

Wellington Management Group LLP lowered its position in shares of APA Co. (NASDAQ:APA - Free Report) by 69.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,031 shares of the company's stock after selling 469,557 shares during the period. Wellington Management Group LLP owned approximately 0.06% of APA worth $4,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in APA. Citizens Financial Group Inc. RI grew its position in APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company's stock worth $202,000 after purchasing an additional 429 shares during the period. Signaturefd LLC grew its position in shares of APA by 7.1% during the 2nd quarter. Signaturefd LLC now owns 7,108 shares of the company's stock valued at $209,000 after acquiring an additional 472 shares during the period. Washington Trust Bank grew its position in shares of APA by 5.9% during the 2nd quarter. Washington Trust Bank now owns 8,794 shares of the company's stock valued at $259,000 after acquiring an additional 492 shares during the period. Empirical Finance LLC grew its position in shares of APA by 1.6% during the 3rd quarter. Empirical Finance LLC now owns 31,272 shares of the company's stock valued at $765,000 after acquiring an additional 497 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of APA by 16.9% during the 3rd quarter. UMB Bank n.a. now owns 3,556 shares of the company's stock valued at $87,000 after buying an additional 513 shares in the last quarter. Institutional investors own 83.01% of the company's stock.

APA Stock Performance

APA stock traded down $0.89 during midday trading on Tuesday, hitting $21.05. 10,227,939 shares of the stock traded hands, compared to its average volume of 6,291,604. The firm has a market cap of $7.79 billion, a P/E ratio of 2.97 and a beta of 3.18. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The stock's fifty day simple moving average is $23.30 and its 200-day simple moving average is $26.44. APA Co. has a 1-year low of $20.45 and a 1-year high of $37.82.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 4.75%. APA's dividend payout ratio is presently 14.12%.

Insider Activity

In related news, Director Juliet S. Ellis bought 4,391 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price 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 trade represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

APA has been the topic of several research analyst reports. Evercore ISI decreased their price target on shares of APA from $39.00 to $33.00 and set an "in-line" rating on the stock in a research note on Monday, September 30th. Truist Financial decreased their price target on shares of APA from $36.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Piper Sandler decreased their target price on shares of APA from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday. Mizuho decreased their target price on shares of APA from $25.00 to $24.00 and set an "underperform" rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group decreased their target price on shares of APA from $26.00 to $25.00 in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $31.14.

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.