Modern Wealth Management LLC Purchases New Position in APA Co. (NASDAQ:APA)

Modern Wealth Management LLC acquired a new position in shares of APA Co. (NASDAQ:APA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,156 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC raised its position in shares of APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after buying an additional 3,411,270 shares in the last quarter. Harris Associates L P lifted its stake in APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after purchasing an additional 4,293,932 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in APA by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock valued at $297,540,000 after acquiring an additional 894,574 shares during the period. Geode Capital Management LLC boosted its stake in shares of APA by 2.5% during the third quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock valued at $226,928,000 after purchasing an additional 224,547 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in APA by 17.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,102,659 shares of the company’s stock valued at $100,351,000 after buying an additional 600,612 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Performance

NASDAQ APA opened at $21.20 on Friday. 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. The business has a 50-day moving average price of $21.65 and a 200-day moving average price of $22.94. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 2.99 and a beta of 3.26.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.31 billion. As a group, equities research analysts predict that APA Co. will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.72%. APA’s payout ratio is currently 44.25%.

Wall Street Analysts Forecast Growth

APA has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “sell” rating on shares of APA in a report on Wednesday, March 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $32.00 price objective on shares of APA in a research note on Thursday, January 23rd. UBS Group cut their target price on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Mizuho cut their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday, December 16th. Finally, Wells Fargo & Company dropped their price objective on APA from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.20.

APA Company 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.