Sterneck Capital Management LLC Boosts Stock Holdings in APA Co. (NASDAQ:APA)

Sterneck Capital Management LLC lifted its holdings in APA Co. (NASDAQ:APA) by 18.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,250 shares of the company’s stock after acquiring an additional 1,725 shares during the quarter. Sterneck Capital Management LLC’s holdings in APA were worth $260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Private Client Wealth LLC grew its position in shares of APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares during the last quarter. Huntington National Bank boosted its stake in APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after acquiring an additional 561 shares in the last quarter. Blue Trust Inc. grew its holdings in APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after purchasing an additional 1,604 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of APA during the second quarter worth $76,000. Finally, Covestor Ltd lifted its holdings in shares of APA by 40.8% during the 3rd quarter. Covestor Ltd now owns 3,093 shares of the company’s stock valued at $76,000 after purchasing an additional 896 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

Insider Transactions at APA

In other APA news, Director Juliet S. Ellis bought 4,391 shares of APA stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, with a total value of $100,026.98. Following the purchase, the director now directly owns 12,436 shares in the company, valued at $283,292.08. This represents a 54.58 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on APA shares. Citigroup dropped their target price on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Scotiabank dropped their price target on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Piper Sandler dropped their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group decreased their price target on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.55.

APA Price Performance

Shares of APA opened at $23.66 on Wednesday. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 3.34 and a beta of 3.16. APA Co. has a 52 week low of $20.32 and a 52 week high of $36.04. The stock’s 50-day moving average price is $22.43 and its 200-day moving average price is $25.76. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. APA’s dividend payout ratio (DPR) is currently 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.