Alberta Investment Management Corp Acquires New Stake in APA Co. (NASDAQ:APA)

Alberta Investment Management Corp acquired a new stake in shares of APA Co. (NASDAQ:APA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 270,880 shares of the company’s stock, valued at approximately $6,255,000.

A number of other hedge funds have also made changes to their positions in the stock. Atria Wealth Solutions Inc. increased its stake in shares of APA by 104.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 45,171 shares of the company’s stock valued at $1,043,000 after acquiring an additional 23,027 shares during the period. Kornitzer Capital Management Inc. KS grew its position in APA by 6.1% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 1,532,360 shares of the company’s stock worth $35,382,000 after buying an additional 88,656 shares during the last quarter. Venturi Wealth Management LLC grew its position in APA by 596.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,124 shares of the company’s stock worth $49,000 after buying an additional 1,819 shares during the last quarter. D.A. Davidson & CO. acquired a new position in APA in the fourth quarter worth approximately $487,000. Finally, Sanctuary Advisors LLC grew its position in APA by 23.9% in the fourth quarter. Sanctuary Advisors LLC now owns 14,468 shares of the company’s stock worth $333,000 after buying an additional 2,790 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on APA shares. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price target on shares of APA in a research report on Thursday, January 23rd. Piper Sandler decreased their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Truist Financial decreased their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Raymond James lifted their price objective on shares of APA from $44.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Citigroup lowered their price objective on shares of APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Four 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, APA presently has an average rating of “Hold” and an average price target of $30.65.

APA Stock Up 0.1 %

APA stock opened at $23.60 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. APA Co. has a 1 year low of $20.32 and a 1 year high of $36.04. The company has a fifty day simple moving average of $22.91 and a 200 day simple moving average of $24.30. The firm has a market cap of $8.73 billion, a PE ratio of 3.33 and a beta of 3.15.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s payout ratio is presently 14.12%.

Insider Activity at APA

In other news, Director Juliet S. Ellis bought 4,391 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now directly owns 12,436 shares in the company, valued at approximately $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 owned by company insiders.

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.