South Dakota Investment Council Increases Stake in APA Co. (NASDAQ:APA)

South Dakota Investment Council increased its position in shares of APA Co. (NASDAQ:APA) by 96.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 774,245 shares of the company’s stock after buying an additional 380,510 shares during the period. South Dakota Investment Council owned about 0.21% of APA worth $17,877,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its holdings in APA by 22.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company’s stock worth $1,503,000 after acquiring an additional 12,077 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in APA by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after acquiring an additional 485,291 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in APA by 175.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company’s stock worth $543,000 after acquiring an additional 14,980 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in APA in the third quarter worth about $7,238,000. Finally, Victory Capital Management Inc. boosted its holdings in APA by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock worth $30,852,000 after acquiring an additional 149,762 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Performance

NASDAQ APA opened at $22.79 on Friday. The stock’s fifty day moving average is $22.92 and its two-hundred day moving average is $24.24. The firm has a market capitalization of $8.43 billion, a P/E ratio of 3.22 and a beta of 3.15. 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 fifty-two week low of $20.32 and a fifty-two week high of $36.04.

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on APA shares. Citigroup lowered their price target on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 target price on shares of APA in a report on Thursday, January 23rd. Wells Fargo & Company downgraded APA from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $42.00 to $25.00 in a report on Tuesday, December 17th. Mizuho decreased their target price on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. Finally, Piper Sandler decreased their target price on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.65.

Insider Activity

In other news, Director Juliet S. Ellis acquired 4,391 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the acquisition, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.