Cornercap Investment Counsel Inc. Decreases Position in APA Co. (NASDAQ:APA)

Cornercap Investment Counsel Inc. decreased its holdings in shares of APA Co. (NASDAQ:APA) by 52.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,119 shares of the company’s stock after selling 18,740 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in APA were worth $419,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Covestor Ltd increased its holdings in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC purchased a new stake in APA during the second quarter worth $42,000. GPS Wealth Strategies Group LLC boosted its position in APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares in the last quarter. Finally, Huntington National Bank boosted its position in APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. UBS Group reduced their price objective on APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Truist Financial reduced their price objective on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Barclays dropped their target price on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, November 8th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, APA currently has a consensus rating of “Hold” and a consensus price target of $32.95.

APA Stock Down 1.0 %

APA opened at $22.38 on Friday. APA Co. has a 12 month low of $21.15 and a 12 month high of $37.82. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $8.28 billion, a P/E ratio of 3.16 and a beta of 3.24. The stock’s 50 day moving average price is $24.51 and its 200 day moving average price is $27.67.

APA Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

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.