Treasurer of the State of North Carolina Trims Holdings in APA Co. (NASDAQ:APA)

Treasurer of the State of North Carolina trimmed its position in APA Co. (NASDAQ:APA) by 4.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,110 shares of the company’s stock after selling 6,582 shares during the period. Treasurer of the State of North Carolina’s holdings in APA were worth $3,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. MML Investors Services LLC bought a new position in APA in the 3rd quarter worth about $214,000. TD Private Client Wealth LLC lifted its stake in APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of APA by 23.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,678 shares of the company’s stock worth $266,000 after acquiring an additional 2,185 shares in the last quarter. PVG Asset Management Corp purchased a new position in APA in the 3rd quarter worth about $757,000. Finally, Tidal Investments LLC raised its holdings in shares of APA by 154.2% during the third quarter. Tidal Investments LLC now owns 62,400 shares of the company’s stock valued at $1,526,000 after acquiring an additional 37,855 shares during the period. 83.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada dropped their target price on APA from $27.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Morgan Stanley set a $20.00 price objective on APA and gave the company an “underweight” rating in a report on Tuesday. Susquehanna dropped their target price on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, March 3rd. Piper Sandler reduced their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Finally, Scotiabank lowered their price target on APA from $26.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.47.

APA Price Performance

Shares of APA stock opened at $14.89 on Wednesday. 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 firm has a market cap of $5.42 billion, a price-to-earnings ratio of 2.10 and a beta of 2.74. The stock has a 50-day moving average price of $19.82 and a 200 day moving average price of $22.15. APA Co. has a 12 month low of $13.58 and a 12 month high of $33.41.

APA (NASDAQ:APA) last released 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). The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. Research analysts expect that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The firm also recently announced 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 yield of 6.72%. APA’s payout ratio is 44.25%.

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.