1776 Wealth LLC Has $248,000 Stock Position in APA Co. (NASDAQ:APA)

1776 Wealth LLC decreased its position in APA Co. (NASDAQ:APA) by 41.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,752 shares of the company’s stock after selling 7,651 shares during the period. 1776 Wealth LLC’s holdings in APA were worth $248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in APA. Harris Associates L P grew its holdings in shares of APA by 20.8% in the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after buying an additional 4,293,932 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of APA by 12.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after buying an additional 3,411,270 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of APA by 3,450.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock valued at $24,115,000 after buying an additional 958,141 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of APA by 29.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock valued at $94,500,000 after buying an additional 929,770 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 894,574 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

APA has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a report on Friday, January 3rd. Mizuho reduced their target price on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research note on Monday, December 16th. Citigroup reduced their target price on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 target price on shares of APA in a research note on Thursday, January 23rd. Finally, Piper Sandler reduced their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.15.

APA Stock Up 2.3 %

Shares of APA stock opened at $19.65 on Thursday. 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 firm’s 50-day moving average is $22.45 and its 200-day moving average is $23.46. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 2.78 and a beta of 3.26. APA Co. has a 52-week low of $17.66 and a 52-week high of $36.05.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The firm 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%. Sell-side analysts predict that APA Co. will post 4.03 EPS for the current year.

APA Announces Dividend

The business 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 5.09%. APA’s dividend payout ratio is currently 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.