Barnett & Company Inc. Sells 18,025 Shares of APA Co. (NASDAQ:APA)

Barnett & Company Inc. cut its stake in shares of APA Co. (NASDAQ:APA) by 28.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,593 shares of the company’s stock after selling 18,025 shares during the period. Barnett & Company Inc.’s holdings in APA were worth $1,091,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after buying an additional 2,004,555 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after acquiring an additional 2,736,041 shares during the last quarter. Bank of New York Mellon Corp grew its stake in APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after buying an additional 455,312 shares in the last quarter. LSV Asset Management increased its stake in APA by 4.9% in the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock valued at $81,193,000 after acquiring an additional 129,841 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of APA by 1.1% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,451,439 shares of the company’s stock valued at $42,730,000 after buying an additional 16,287 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup lowered their price target on shares of APA from $32.00 to $29.00 in a research note on Friday, October 18th. Susquehanna reduced their price target on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Evercore ISI lowered their price objective on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Piper Sandler cut their target price on shares of APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Bernstein Bank lowered their price target on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, APA has an average rating of “Hold” and an average price target of $33.50.

APA Stock Performance

APA stock traded up $0.08 during mid-day trading on Tuesday, hitting $22.25. The company had a trading volume of 1,782,184 shares, compared to its average volume of 6,233,979. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 3.17 and a beta of 3.24. The company’s fifty day moving average is $24.81 and its 200-day moving average is $27.92. APA Co. has a 12-month low of $21.15 and a 12-month high of $38.27.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

APA Company 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.