Wellington Management Group LLP Lowers Stock Position in APA Co. (NASDAQ:APA)

Wellington Management Group LLP trimmed its stake in APA Co. (NASDAQ:APA) by 69.7% during the third quarter, Holdings Channel.com reports. The fund owned 204,031 shares of the company’s stock after selling 469,557 shares during the period. Wellington Management Group LLP’s holdings in APA were worth $4,991,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in APA by 12.6% during 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 during the period. Harris Associates L P boosted its stake in shares of 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of APA by 4.2% in 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 purchasing an additional 485,291 shares in the last quarter. Smead Capital Management Inc. increased its stake in 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 buying an additional 326,042 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after buying an additional 2,736,041 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Price Performance

APA stock opened at $21.94 on Tuesday. 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 company has a market capitalization of $8.12 billion, a P/E ratio of 3.10 and a beta of 3.18. The business has a 50 day simple moving average of $23.41 and a 200-day simple moving average of $26.51. APA Co. has a twelve month low of $20.95 and a twelve month high of $37.82.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s payout ratio is currently 14.12%.

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 on Thursday, December 12th. The stock was bought at an average cost 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. The trade was a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

APA has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Evercore ISI cut their price target on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. UBS Group lowered their price objective on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Susquehanna reduced their target price on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, APA currently has a consensus rating of “Hold” and a consensus target price of $32.33.

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.