Intellectus Partners LLC Lowers Stake in APA Co. (NASDAQ:APA)

Intellectus Partners LLC lowered its stake in shares of APA Co. (NASDAQ:APA) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,550 shares of the company’s stock after selling 1,400 shares during the period. Intellectus Partners LLC’s holdings in APA were worth $544,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in APA by 22.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company’s stock worth $1,503,000 after purchasing an additional 12,077 shares during the period. Charles Schwab Investment Management Inc. raised its position in APA by 4.2% in 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 period. Baader Bank Aktiengesellschaft raised its position in APA by 175.8% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company’s stock worth $543,000 after purchasing an additional 14,980 shares during the period. HITE Hedge Asset Management LLC purchased a new position in APA in the 3rd quarter worth $7,238,000. Finally, Victory Capital Management Inc. raised its position in APA by 13.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock worth $30,852,000 after purchasing an additional 149,762 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Insider Buying and Selling

In other APA news, Director Juliet S. Ellis acquired 4,391 shares of the company’s stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. The trade was a 54.58 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

APA Trading Up 0.5 %

Shares of APA opened at $18.84 on Friday. The firm’s 50-day moving average price is $22.67 and its 200-day moving average price is $23.65. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 2.66 and a beta of 3.26. 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 $17.66 and a 1-year high of $36.04.

APA (NASDAQ:APA) last announced 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). APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.31 billion. Sell-side analysts anticipate that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.31%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is currently 44.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APA. The Goldman Sachs Group decreased their target price on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price target on shares of APA in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Piper Sandler cut their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Finally, Citigroup cut their price target on shares of APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. 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 stock. According to data from MarketBeat.com, APA presently has an average rating of “Hold” and a consensus target price of $29.80.

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.