Bernzott Capital Advisors Has $4.69 Million Stock Holdings in APA Co. (NASDAQ:APA)

Bernzott Capital Advisors cut its holdings in APA Co. (NASDAQ:APA) by 0.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 191,785 shares of the company’s stock after selling 646 shares during the quarter. Bernzott Capital Advisors’ holdings in APA were worth $4,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares during the period. Vanguard Group Inc. increased its position in APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after purchasing an additional 2,004,555 shares during the period. Webs Creek Capital Management LP acquired a new stake in APA in the first quarter worth about $28,593,000. AQR Capital Management LLC increased its position in 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 purchasing an additional 767,557 shares during the period. Finally, Bank of New York Mellon Corp increased its position 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. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on APA. Scotiabank reduced their target price on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wolfe Research began coverage on APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price on the stock. Mizuho reduced their target price on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Finally, Barclays reduced their target price on APA from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, APA currently has an average rating of “Hold” and a consensus target price of $34.18.

APA Stock Down 2.2 %

NASDAQ APA traded down $0.52 during trading on Tuesday, hitting $23.18. The stock had a trading volume of 2,247,205 shares, compared to its average volume of 6,152,205. The company has a market capitalization of $8.60 billion, a PE ratio of 2.65 and a beta of 3.23. The company’s 50-day moving average price is $25.89 and its two-hundred day moving average price is $28.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. APA Co. has a 12 month low of $22.72 and a 12 month high of $40.93.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that APA Co. will post 3.97 EPS for the current year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 11.19%.

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.