Courier Capital LLC Reduces Stock Position in APA Co. (NASDAQ:APA)

Courier Capital LLC cut its stake in APA Co. (NASDAQ:APA) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,555 shares of the company’s stock after selling 3,345 shares during the quarter. Courier Capital LLC’s holdings in APA were worth $1,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harris Associates L P increased its position in APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after acquiring an additional 4,293,932 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of APA by 12.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after purchasing an additional 3,411,270 shares during the period. Dimensional Fund Advisors LP increased 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 purchasing an additional 2,736,041 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in shares of APA by 3,450.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock worth $24,115,000 after purchasing an additional 958,141 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock worth $42,092,000 after buying an additional 767,557 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on APA. Evercore ISI reduced their target price 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. Piper Sandler reduced their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. The Goldman Sachs Group lowered their target price on APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, January 3rd. Royal Bank of Canada reduced their price target on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Finally, Scotiabank lowered their price objective on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, APA presently has an average rating of “Hold” and a consensus price target of $30.55.

Insider Activity at APA

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $22.78 per share, with a total value of $100,026.98. Following the acquisition, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

APA Price Performance

NASDAQ:APA opened at $24.38 on Tuesday. The business’s 50-day moving average is $22.47 and its 200 day moving average is $25.61. APA Co. has a 12 month low of $20.32 and a 12 month high of $36.04. The company has a market capitalization of $9.02 billion, a P/E ratio of 3.44 and a beta of 3.16. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.10%. APA’s dividend payout ratio is currently 14.12%.

About APA

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.