Madison Investment Advisors LLC Purchases New Stake in APA Co. (NASDAQ:APA)

Madison Investment Advisors LLC purchased a new stake in APA Co. (NASDAQ:APA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 358,700 shares of the company’s stock, valued at approximately $8,282,000. Madison Investment Advisors LLC owned 0.10% of APA at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in APA. TD Private Client Wealth LLC raised its stake in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares during the period. Riverview Trust Co increased its position in APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after buying an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB increased its position in APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after buying an additional 586 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in APA by 93.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after buying an additional 780 shares during the period. Finally, Rothschild Investment LLC increased its position in APA by 86.8% during the 4th quarter. Rothschild Investment LLC now owns 2,087 shares of the company’s stock worth $48,000 after buying an additional 970 shares during the period. Institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Susquehanna lowered their price objective on APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, March 3rd. Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $45.00 to $32.00 in a research report on Monday, March 10th. Wells Fargo & Company cut APA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $42.00 to $25.00 in a research report on Tuesday, December 17th. Mizuho lowered their price objective on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research report on Monday, December 16th. Finally, The Goldman Sachs Group reduced their target price on APA from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.60.

APA Stock Performance

NASDAQ:APA opened at $20.61 on Friday. The stock’s 50-day simple moving average is $21.97 and its 200 day simple moving average is $23.08. The firm has a market capitalization of $7.50 billion, a PE ratio of 2.91 and a beta of 3.26. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA Co. has a twelve month low of $17.66 and a twelve month high of $36.05.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. On average, analysts anticipate that APA Co. will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s payout ratio is 44.25%.

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.