Modern Wealth Management LLC Invests $302,000 in APA Co. (NASDAQ:APA)

Modern Wealth Management LLC purchased a new stake in shares of APA Co. (NASDAQ:APA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,156 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors also recently modified their holdings of the company. Harris Associates L P lifted its position in shares of APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in APA by 12.6% in 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 purchasing an additional 3,411,270 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in APA by 29.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock worth $94,500,000 after acquiring an additional 929,770 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of APA by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock valued at $297,540,000 after purchasing an additional 894,574 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in APA in the 4th quarter worth $14,524,000. Institutional investors own 83.01% of the company’s stock.

APA Stock Up 0.5 %

Shares of NASDAQ APA opened at $21.20 on Friday. The company has a 50 day simple moving average of $21.65 and a 200 day simple moving average of $22.94. The firm has a market cap of $7.72 billion, a PE ratio of 2.99 and a beta of 3.26. APA Co. has a 1 year low of $17.66 and a 1 year high of $36.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. On average, research analysts forecast that APA Co. will post 4.03 EPS for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 4.72%. APA’s payout ratio is currently 44.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APA. Mizuho decreased their price objective on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. Susquehanna reduced their target price on shares of APA from $33.00 to $31.00 and set a “positive” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group reaffirmed a “sell” rating on shares of APA in a report on Wednesday, March 19th. Morgan Stanley set a $22.00 target price on shares of APA and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Piper Sandler decreased their price target on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, APA presently has an average rating of “Hold” and an average price target of $28.20.

APA 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.