New York Life Investment Management LLC Sells 712 Shares of APA Co. (NASDAQ:APA)

New York Life Investment Management LLC trimmed its position in APA Co. (NASDAQ:APA) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,534 shares of the company’s stock after selling 712 shares during the period. New York Life Investment Management LLC’s holdings in APA were worth $1,121,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in APA. Harris Associates L P grew 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 worth $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted 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 acquiring an additional 3,411,270 shares during the last quarter. Mizuho Securities USA LLC boosted 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 valued at $24,115,000 after acquiring an additional 958,141 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in APA by 29.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock valued at $94,500,000 after acquiring an additional 929,770 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in APA by 17.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,102,659 shares of the company’s stock valued at $100,351,000 after acquiring an additional 600,612 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on APA shares. 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 note on Tuesday, December 17th. JPMorgan Chase & Co. dropped their target price on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of APA in a research note on Thursday, January 23rd. Truist Financial dropped their target price 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. Finally, Raymond James boosted their target price on shares of APA from $44.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.80.

Insider Transactions at APA

In related news, Director Juliet S. Ellis purchased 4,391 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $22.78 per share, with a total value of $100,026.98. Following the acquisition, the director now directly owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

APA Stock Performance

NASDAQ APA opened at $18.89 on Tuesday. APA Co. has a 1 year low of $18.66 and a 1 year high of $36.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $6.99 billion, a PE ratio of 2.67 and a beta of 3.15. The company’s 50 day simple moving average is $22.93 and its two-hundred day simple moving average is $23.90.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Analysts predict that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.29%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio is presently 44.25%.

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.