Public Employees Retirement System of Ohio Reduces Holdings in APA Co. (NASDAQ:APA)

Public Employees Retirement System of Ohio reduced its stake in APA Co. (NASDAQ:APA) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,826 shares of the company’s stock after selling 10,939 shares during the period. Public Employees Retirement System of Ohio’s holdings in APA were worth $3,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of 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 during the period. Rothschild Investment LLC purchased a new stake in APA in the 2nd quarter worth approximately $42,000. Huntington National Bank grew its position in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after buying an additional 561 shares during the last quarter. Blue Trust Inc. increased its stake in shares of APA by 164.2% during the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after buying an additional 1,604 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new position in shares of APA during the second quarter valued at approximately $76,000. Institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

APA has been the topic of several recent analyst reports. Piper Sandler cut their price target on shares of APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. UBS Group reduced their price target on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Evercore ISI lowered their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. reduced 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. Finally, Wells Fargo & Company lowered their target price on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, APA presently has a consensus rating of “Hold” and a consensus price target of $32.52.

APA Stock Performance

Shares of APA stock opened at $22.86 on Monday. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 3.23 and a beta of 3.18. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA Co. has a 1 year low of $20.95 and a 1 year high of $37.82. The firm’s 50-day moving average is $23.51 and its 200 day moving average is $26.56.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s payout ratio is 14.12%.

Insider Activity at APA

In other APA news, Director Juliet S. Ellis bought 4,391 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

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.