Brookstone Capital Management Sells 2,095 Shares of APA Co. (NASDAQ:APA)

Brookstone Capital Management lowered its holdings in APA Co. (NASDAQ:APA) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,296 shares of the company’s stock after selling 2,095 shares during the period. Brookstone Capital Management’s holdings in APA were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of APA by 12.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after acquiring an additional 3,411,270 shares in the last quarter. Harris Associates L P grew its stake in APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of APA by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after purchasing an additional 485,291 shares during the last quarter. Smead Capital Management Inc. raised its stake in shares of APA by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after purchasing an additional 326,042 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in APA by 2.5% during the third quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock worth $226,928,000 after buying an additional 224,547 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

APA Price Performance

APA stock opened at $24.40 on Monday. The stock’s fifty day moving average price is $22.62 and its two-hundred day moving average price is $25.49. The firm has a market cap of $9.03 billion, a PE ratio of 3.45 and a beta of 3.16. 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 Co. has a one year low of $20.32 and a one year high of $36.04.

APA Dividend Announcement

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Wednesday, January 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

Analyst Ratings Changes

Several research firms have recently weighed in on APA. Evercore ISI lowered their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. The Goldman Sachs Group cut their price objective on APA from $25.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, January 3rd. Truist Financial decreased their target price on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price target on shares of APA in a report on Wednesday, January 15th. Finally, Wells Fargo & Company downgraded shares of APA from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $42.00 to $25.00 in a report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.55.

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.