California Public Employees Retirement System Sells 36,466 Shares of APA Co. (NASDAQ:APA)

California Public Employees Retirement System trimmed its stake in APA Co. (NASDAQ:APA) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 587,645 shares of the company’s stock after selling 36,466 shares during the period. California Public Employees Retirement System’s holdings in APA were worth $13,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. lifted its stake in APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after purchasing an additional 1,077 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of APA by 84.1% during 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 during the last quarter. Riverview Trust Co boosted its holdings in APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after acquiring an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB grew its position in APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after acquiring an additional 586 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in APA in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Down 14.4 %

Shares of APA stock opened at $15.18 on Friday. The stock’s fifty day moving average price is $21.14 and its 200 day moving average price is $22.74. APA Co. has a 1-year low of $14.86 and a 1-year high of $36.05. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 2.14 and a beta of 2.73. 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 (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. On average, research analysts expect that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 6.59%. APA’s payout ratio is currently 44.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APA. Barclays lowered their target price on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 target price on shares of APA in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price target on APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Citigroup decreased their target price on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $23.00 price target on shares of APA in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.68.

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.