Geode Capital Management LLC Raises Stake in APA Co. (NASDAQ:APA)

Geode Capital Management LLC boosted its holdings in APA Co. (NASDAQ:APA) by 2.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,507,956 shares of the company’s stock after buying an additional 200,770 shares during the period. Geode Capital Management LLC’s holdings in APA were worth $219,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APA. Franklin Resources Inc. raised its stake in shares of APA by 42.2% in the 4th quarter. Franklin Resources Inc. now owns 461,901 shares of the company’s stock valued at $10,665,000 after acquiring an additional 137,014 shares during the period. Schroder Investment Management Group increased its holdings in APA by 73.8% in the 4th quarter. Schroder Investment Management Group now owns 807,142 shares of the company’s stock valued at $18,096,000 after purchasing an additional 342,698 shares in the last quarter. Allianz SE purchased a new stake in shares of APA during the 4th quarter valued at about $149,000. Allstate Corp purchased a new position in APA in the 4th quarter worth approximately $235,000. Finally, Brown Brothers Harriman & Co. grew its position in APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after acquiring an additional 1,077 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on APA from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price target on shares of APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Barclays reduced their price objective on shares of APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Mizuho cut their target price on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $23.00 price target on shares of APA in a research report on Wednesday, March 19th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.68.

APA Stock Down 14.4 %

Shares of APA stock opened at $15.18 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $5.53 billion, a PE ratio of 2.14 and a beta of 2.73. The business’s fifty day moving average is $21.14 and its 200-day moving average is $22.74. APA Co. has a 1 year low of $14.86 and a 1 year high of $36.05.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 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 business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.31 billion. Equities analysts expect that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s payout ratio is 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.