APA Co. (NASDAQ:APA) Stock Position Reduced by Bridgewater Associates LP

Bridgewater Associates LP decreased its stake in APA Co. (NASDAQ:APAFree Report) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 595,186 shares of the company’s stock after selling 112,240 shares during the quarter. Bridgewater Associates LP’s holdings in APA were worth $21,355,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in APA by 5.0% during the third quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock valued at $1,714,656,000 after buying an additional 2,003,862 shares in the last quarter. Smead Capital Management Inc. lifted its stake in shares of APA by 13.6% in the fourth quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company’s stock worth $187,866,000 after buying an additional 626,460 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of APA by 1.9% during the 3rd quarter. Clearbridge Investments LLC now owns 2,815,109 shares of the company’s stock worth $115,701,000 after buying an additional 53,241 shares during the period. Charles Schwab Investment Management Inc. grew its stake in APA by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,619,374 shares of the company’s stock valued at $93,983,000 after buying an additional 88,061 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in APA by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock worth $66,093,000 after acquiring an additional 345,192 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on APA from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 target price on shares of APA in a research report on Monday, April 8th. Morgan Stanley restated an “underweight” rating and issued a $28.00 price target on shares of APA in a research report on Monday, April 15th. Susquehanna upped their price objective on shares of APA from $54.00 to $57.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Finally, Piper Sandler lowered their price target on APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 14th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.90.

Read Our Latest Analysis on APA

APA Stock Down 1.0 %

NASDAQ APA traded down $0.29 during trading hours on Tuesday, reaching $29.18. 293,710 shares of the company’s stock were exchanged, compared to its average volume of 6,518,057. The company’s 50-day moving average is $31.41 and its two-hundred day moving average is $32.40. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. APA Co. has a one year low of $28.67 and a one year high of $46.15. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 3.30 and a beta of 3.25.

APA (NASDAQ:APAGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. APA’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. On average, analysts forecast that APA Co. will post 4.58 EPS for the current fiscal year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio (DPR) is currently 11.19%.

APA Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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