DnB Asset Management AS Sells 1,249 Shares of APA Co. (NASDAQ:APA)

DnB Asset Management AS lowered its stake in APA Co. (NASDAQ:APA) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,760 shares of the company’s stock after selling 1,249 shares during the period. DnB Asset Management AS’s holdings in APA were worth $1,611,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cerity Partners LLC increased its stake in shares of APA by 25.5% in the third quarter. Cerity Partners LLC now owns 28,710 shares of the company’s stock worth $702,000 after purchasing an additional 5,842 shares during the period. Bank of Montreal Can increased its position in APA by 5.4% in the 3rd quarter. Bank of Montreal Can now owns 359,409 shares of the company’s stock worth $8,816,000 after buying an additional 18,332 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of APA by 3.1% during the third quarter. The Manufacturers Life Insurance Company now owns 302,301 shares of the company’s stock worth $7,394,000 after buying an additional 9,033 shares during the last quarter. Townsquare Capital LLC bought a new stake in shares of APA in the third quarter valued at approximately $231,000. Finally, Glenmede Trust Co. NA grew its stake in shares of APA by 8.6% in the third quarter. Glenmede Trust Co. NA now owns 9,803 shares of the company’s stock worth $240,000 after acquiring an additional 775 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

APA has been the topic of several research reports. Morgan Stanley set a $22.00 price target on APA and gave the company an “underweight” rating in a research note on Wednesday, March 26th. Mizuho cut their target price on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research note on Monday, December 16th. Piper Sandler decreased their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price target on shares of APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Barclays decreased their price objective on APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.25.

APA Stock Up 0.5 %

Shares of NASDAQ APA opened at $21.13 on Wednesday. APA Co. has a 1 year low of $17.66 and a 1 year high of $36.05. The firm’s 50-day moving average is $21.46 and its 200-day moving average is $22.87. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $7.69 billion, a PE ratio of 2.98 and a beta of 3.26.

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

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.73%. APA’s dividend payout ratio (DPR) is presently 44.25%.

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.