Marco Investment Management LLC Increases Stock Holdings in APA Co. (NASDAQ:APA)

Marco Investment Management LLC raised its stake in shares of APA Co. (NASDAQ:APA) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,299 shares of the company’s stock after purchasing an additional 1,101 shares during the quarter. Marco Investment Management LLC’s holdings in APA were worth $1,524,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in APA by 4.2% during the third 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 during the period. Smead Capital Management Inc. lifted its position 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 acquiring an additional 326,042 shares during the period. Dimensional Fund Advisors LP boosted its stake in APA by 131.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in APA by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after purchasing an additional 455,312 shares during the period. Finally, LSV Asset Management increased its stake in shares of APA by 4.9% during the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock valued at $81,193,000 after purchasing an additional 129,841 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APA has been the topic of a number of recent research reports. Piper Sandler cut their target price on APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. The Goldman Sachs Group cut their price objective on shares of APA from $26.00 to $25.00 in a research report on Friday, October 18th. Scotiabank decreased their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada cut their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Finally, Evercore ISI decreased 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. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, APA presently has a consensus rating of “Hold” and a consensus price target of $32.81.

APA Trading Up 1.5 %

APA stock opened at $22.77 on Friday. APA Co. has a 1 year low of $21.15 and a 1 year high of $37.82. The firm’s 50 day moving average price is $24.34 and its 200-day moving average price is $27.40. 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 $8.42 billion, a P/E ratio of 3.22 and a beta of 3.24.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Tuesday, October 22nd. APA’s payout ratio is presently 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.