Carnegie Lake Advisors LLC Invests $528,000 in APA Co. (NASDAQ:APA)

Carnegie Lake Advisors LLC acquired a new position in APA Co. (NASDAQ:APA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,850 shares of the company’s stock, valued at approximately $528,000.

Several other hedge funds have also recently bought and sold shares of APA. Hotchkis & Wiley Capital Management LLC grew its stake in shares of APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after purchasing an additional 3,411,270 shares in the last quarter. 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 valued at $609,414,000 after buying an additional 4,293,932 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in APA by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock valued at $293,312,000 after buying an additional 485,291 shares in the last quarter. Smead Capital Management Inc. increased its stake in APA by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock valued at $236,466,000 after buying an additional 326,042 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of APA by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock worth $226,928,000 after buying an additional 224,547 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APA has been the subject of several recent analyst reports. Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $42.00 to $25.00 in a report on Tuesday, December 17th. Mizuho decreased their price target on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research note on Monday, December 16th. Susquehanna dropped their price objective on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Truist Financial decreased their target price on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their target price on APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Four equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, APA has a consensus rating of “Hold” and a consensus price target of $30.65.

Insider Activity at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the transaction, the director now owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

APA Trading Up 6.1 %

NASDAQ APA opened at $22.99 on Tuesday. The firm’s 50 day moving average price is $22.77 and its two-hundred day moving average price is $24.63. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a twelve month low of $20.32 and a twelve month high of $36.04. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 3.25 and a beta of 3.15.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.35%. APA’s dividend payout ratio is 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.