Ferguson Wellman Capital Management Inc. Sells 5,015 Shares of APA Co. (NASDAQ:APA)

Ferguson Wellman Capital Management Inc. lessened its stake in APA Co. (NASDAQ:APA) by 37.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,433 shares of the company’s stock after selling 5,015 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in APA were worth $206,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in APA. Covestor Ltd lifted its stake in APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the period. Rothschild Investment LLC bought a new position in APA during the second quarter worth about $42,000. Huntington National Bank lifted its stake in APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares during the period. Finally, GPS Wealth Strategies Group LLC lifted its stake in APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares during the period. Institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on shares of APA from $26.00 to $25.00 in a report on Friday, October 18th. Wells Fargo & Company dropped their price objective on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Wolfe Research started coverage on shares of APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, Scotiabank dropped their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.95.

APA Price Performance

Shares of APA stock opened at $22.60 on Friday. APA Co. has a 52-week low of $21.15 and a 52-week high of $38.27. The stock has a market cap of $8.36 billion, a PE ratio of 3.19 and a beta of 3.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50 day moving average price is $24.57 and its two-hundred day moving average price is $27.76.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.42%. APA’s payout ratio is presently 14.12%.

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.