IFP Advisors Inc Lowers Stake in APA Co. (NASDAQ:APA)

IFP Advisors Inc cut its position in APA Co. (NASDAQ:APA) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,280 shares of the company’s stock after selling 1,446 shares during the period. IFP Advisors Inc’s holdings in APA were worth $146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in APA by 22.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company’s stock valued at $1,503,000 after buying an additional 12,077 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock valued at $293,312,000 after acquiring an additional 485,291 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in APA by 175.8% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company’s stock valued at $543,000 after acquiring an additional 14,980 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in APA in the 3rd quarter worth $7,238,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of APA by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock valued at $30,852,000 after purchasing an additional 149,762 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Trading Down 1.7 %

Shares of NASDAQ APA opened at $18.57 on Wednesday. APA Co. has a fifty-two week low of $18.00 and a fifty-two week high of $36.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 2.62 and a beta of 3.26. The business’s 50 day moving average price is $22.86 and its 200-day moving average price is $23.83.

APA (NASDAQ:APA) last released its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. On average, sell-side analysts expect that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.39%. APA’s dividend payout ratio is currently 44.25%.

Insider Activity

In other news, Director Juliet S. Ellis purchased 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, with a total value of $100,026.98. Following the transaction, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This 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 can be accessed through this link. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Wells Fargo & Company downgraded APA from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Raymond James increased their target price on APA from $44.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Truist Financial cut their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, UBS Group decreased their price target on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.80.

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.