1776 Wealth LLC Sells 7,651 Shares of APA Co. (NASDAQ:APA)

1776 Wealth LLC cut its holdings in APA Co. (NASDAQ:APA) by 41.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,752 shares of the company’s stock after selling 7,651 shares during the period. 1776 Wealth LLC’s holdings in APA were worth $248,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Janney Montgomery Scott LLC grew its position in APA by 5.0% during the third quarter. Janney Montgomery Scott LLC now owns 52,994 shares of the company’s stock worth $1,296,000 after buying an additional 2,500 shares in the last quarter. Principal Financial Group Inc. grew its position in APA by 3.1% during the third quarter. Principal Financial Group Inc. now owns 456,922 shares of the company’s stock worth $11,176,000 after buying an additional 13,557 shares in the last quarter. Atria Investments Inc grew its position in APA by 14.6% during the third quarter. Atria Investments Inc now owns 55,480 shares of the company’s stock worth $1,357,000 after buying an additional 7,087 shares in the last quarter. Covestor Ltd grew its position in APA by 40.8% during the third quarter. Covestor Ltd now owns 3,093 shares of the company’s stock worth $76,000 after buying an additional 896 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in APA during the third quarter worth about $443,000. 83.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho decreased their price objective on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday, December 16th. Susquehanna decreased their price objective on APA from $33.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, March 3rd. Citigroup decreased their price objective on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Piper Sandler decreased their price objective on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their price objective on APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.15.

APA Stock Performance

APA stock opened at $19.65 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day moving average price of $22.45 and a 200 day moving average price of $23.46. APA Co. has a fifty-two week low of $17.66 and a fifty-two week high of $36.05. The stock has a market capitalization of $7.15 billion, a PE ratio of 2.78 and a beta of 3.26.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. Analysts forecast that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is 44.25%.

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.