MML Investors Services LLC Makes New $214,000 Investment in APA Co. (NASDAQ:APA)

MML Investors Services LLC purchased a new stake in shares of APA Co. (NASDAQ:APA) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 8,769 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors have also added to or reduced their stakes in APA. Whittier Trust Co. of Nevada Inc. lifted its stake in APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the last quarter. Rothschild Investment LLC purchased a new stake in APA during the 2nd quarter valued at about $42,000. Huntington National Bank grew its position in APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares during the last quarter. Blue Trust Inc. increased its stake in shares of APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after buying an additional 1,604 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of APA in the second quarter valued at about $76,000. 83.01% of the stock is currently owned by institutional investors.

APA Price Performance

APA stock opened at $21.84 on Friday. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 3.08 and a beta of 3.19. The firm has a 50-day moving average of $22.66 and a two-hundred day moving average of $26.10. APA Co. has a 1 year low of $20.32 and a 1 year 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.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 4.58%. APA’s dividend payout ratio (DPR) is currently 14.12%.

Wall Street Analysts Forecast Growth

APA has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Wells Fargo & Company lowered shares of APA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $42.00 to $25.00 in a report on Tuesday, December 17th. UBS Group reduced their target price on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Citigroup lowered their target price on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Finally, Mizuho dropped their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, APA presently has an average rating of “Hold” and an average target price of $31.14.

Insider Buying and Selling at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now directly owns 12,436 shares of the company’s stock, valued at $283,292.08. This trade represents a 54.58 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

About APA

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.