CIBC Asset Management Inc Decreases Holdings in APA Co. (NASDAQ:APA)

CIBC Asset Management Inc cut its holdings in shares of APA Co. (NASDAQ:APA) by 16.3% during the 4th quarter, HoldingsChannel reports. The fund owned 52,848 shares of the company’s stock after selling 10,305 shares during the quarter. CIBC Asset Management Inc’s holdings in APA were worth $1,220,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Sanctuary Advisors LLC raised its stake in shares of APA by 23.9% during the fourth quarter. Sanctuary Advisors LLC now owns 14,468 shares of the company’s stock worth $333,000 after acquiring an additional 2,790 shares in the last quarter. KLCM Advisors Inc. raised its stake in shares of APA by 19.8% during the fourth quarter. KLCM Advisors Inc. now owns 696,024 shares of the company’s stock worth $16,071,000 after acquiring an additional 115,249 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in shares of APA by 31.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,125,270 shares of the company’s stock worth $25,982,000 after acquiring an additional 269,855 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of APA by 7.7% in the fourth quarter. New York State Teachers Retirement System now owns 400,409 shares of the company’s stock worth $9,245,000 after purchasing an additional 28,664 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of APA by 5.8% in the fourth quarter. V Square Quantitative Management LLC now owns 10,762 shares of the company’s stock worth $248,000 after purchasing an additional 589 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now owns 12,436 shares in the company, valued at $283,292.08. The trade was a 54.58 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

APA Trading Down 3.5 %

APA stock opened at $22.79 on Friday. The business has a 50-day simple moving average of $22.92 and a two-hundred day simple moving average of $24.24. The company has a market cap of $8.43 billion, a P/E ratio of 3.22 and a beta of 3.15. APA Co. has a 52-week low of $20.32 and a 52-week high of $36.04. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.39%. APA’s dividend payout ratio (DPR) is presently 14.12%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APA. Raymond James raised their target price on shares of APA from $44.00 to $45.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Piper Sandler cut their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. The Goldman Sachs Group cut their target price on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $42.00 to $25.00 in a report on Tuesday, December 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 target price on shares of APA in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, APA presently has an average rating of “Hold” and an average target price of $30.65.

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.