Lee Danner & Bass Inc. Reduces Stock Holdings in APA Co. (NASDAQ:APA)

Lee Danner & Bass Inc. reduced its holdings in APA Co. (NASDAQ:APA) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,716 shares of the company’s stock after selling 14,850 shares during the period. Lee Danner & Bass Inc.’s holdings in APA were worth $1,217,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in APA by 0.6% during the fourth quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock worth $1,780,000 after buying an additional 469 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in APA by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock worth $3,070,000 after buying an additional 544 shares in the last quarter. Segment Wealth Management LLC boosted its holdings in APA by 1.1% during the fourth quarter. Segment Wealth Management LLC now owns 54,938 shares of the company’s stock worth $1,269,000 after buying an additional 571 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in APA by 77.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after buying an additional 586 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Price Performance

APA stock opened at $20.57 on Friday. APA Co. has a 12-month low of $17.66 and a 12-month high of $36.05. The stock has a market cap of $7.49 billion, a P/E ratio of 2.91 and a beta of 3.26. The company has a 50-day moving average price of $22.03 and a 200 day moving average price of $23.14. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. Sell-side analysts anticipate that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is 44.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APA. Citigroup lowered their price target on shares of APA from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday. UBS Group reduced their price objective on shares of APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Piper Sandler reduced their price objective on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Barclays reduced their price objective on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, APA has an average rating of “Hold” and an average target price of $28.60.

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.