Empowered Funds LLC cut its holdings in APA Co. (NASDAQ:APA – Free Report) by 65.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 149,939 shares of the company’s stock after selling 286,594 shares during the period. Empowered Funds LLC’s holdings in APA were worth $3,668,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in APA. Dimensional Fund Advisors LP grew its position in APA by 131.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares during the last quarter. Vanguard Group Inc. grew its position in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares in the last quarter. Webs Creek Capital Management LP bought a new position in APA during the first quarter valued at about $28,593,000. AQR Capital Management LLC raised its holdings in APA by 112.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after acquiring an additional 767,557 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after acquiring an additional 455,312 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Bernstein Bank lowered their price objective on APA from $30.00 to $28.00 in a research report on Friday, October 18th. Scotiabank dropped their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Mizuho decreased their target price on shares of APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their target price on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Citigroup cut their price target on shares of APA from $32.00 to $29.00 in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, APA presently has a consensus rating of “Hold” and an average target price of $32.81.
APA Stock Performance
Shares of APA stock opened at $22.46 on Tuesday. The firm has a 50 day simple moving average of $24.46 and a 200 day simple moving average of $27.60. APA Co. has a fifty-two week low of $21.15 and a fifty-two week high of $37.82. 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 firm has a market cap of $8.31 billion, a P/E ratio of 3.17 and a beta of 3.24.
APA Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.45%. APA’s payout ratio is currently 14.12%.
APA Company 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.
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