Douglas Lane & Associates LLC Has $10.85 Million Stock Holdings in APA Co. (NASDAQ:APA)

Douglas Lane & Associates LLC reduced its holdings in shares of APA Co. (NASDAQ:APA) by 14.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 469,943 shares of the company’s stock after selling 77,257 shares during the period. Douglas Lane & Associates LLC’s holdings in APA were worth $10,851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its stake in shares of APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after acquiring an additional 540 shares in the last quarter. Huntington National Bank grew its position in APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares in the last quarter. Blue Trust Inc. increased its stake in APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after buying an additional 1,604 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of APA during the 2nd quarter worth approximately $76,000. Finally, Covestor Ltd boosted its stake in shares of APA by 40.8% in the 3rd quarter. Covestor Ltd now owns 3,093 shares of the company’s stock worth $76,000 after buying an additional 896 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Insider Activity at APA

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

APA Trading Up 0.1 %

NASDAQ APA opened at $23.68 on Thursday. The stock has a market cap of $8.76 billion, a P/E ratio of 3.34 and a beta of 3.16. APA Co. has a fifty-two week low of $20.32 and a fifty-two week high of $36.04. The stock has a 50 day simple moving average of $22.44 and a two-hundred day simple moving average of $25.75. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24.

APA Announces Dividend

The firm 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 4.22%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s payout ratio is 14.12%.

Analyst Ratings Changes

APA has been the subject of a number of research analyst reports. Piper Sandler decreased their price target on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Scotiabank decreased their target price on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Truist Financial lowered their target price on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reduced their target price on shares of APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Finally, The Goldman Sachs Group reduced their target price on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.55.

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.