Toronto Dominion Bank Sells 51,369 Shares of APA Co. (NASDAQ:APA)

Toronto Dominion Bank cut its stake in APA Co. (NASDAQ:APA) by 29.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,598 shares of the company’s stock after selling 51,369 shares during the period. Toronto Dominion Bank’s holdings in APA were worth $3,023,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Harris Associates L P boosted its position in APA by 20.8% in the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after buying an additional 4,293,932 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of APA by 12.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after acquiring an additional 3,411,270 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after purchasing an additional 2,736,041 shares during the period. Mizuho Securities USA LLC grew its stake in APA by 3,450.8% in the third quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock worth $24,115,000 after purchasing an additional 958,141 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in APA by 112.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock worth $42,092,000 after purchasing an additional 767,557 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Insider Activity

In other news, Director Juliet S. Ellis bought 4,391 shares of APA stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $22.78 per share, for a total transaction of $100,026.98. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

APA has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Bernstein Bank lowered their price objective on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. The Goldman Sachs Group dropped their target price on shares of APA from $26.00 to $25.00 in a report on Friday, October 18th. Piper Sandler reduced their price target on shares of APA from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Monday, November 18th. Finally, Truist Financial dropped their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.52.

APA Stock Performance

Shares of APA stock opened at $22.86 on Monday. The firm has a market capitalization of $8.46 billion, a P/E ratio of 3.23 and a beta of 3.18. APA Co. has a 52 week low of $20.95 and a 52 week high of $37.82. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The company has a 50 day moving average price of $23.51 and a 200 day moving average price of $26.56.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.37%. APA’s payout ratio is currently 14.12%.

About APA

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.