CIBC Asset Management Inc Has $1.55 Million Stake in APA Co. (NASDAQ:APA)

CIBC Asset Management Inc lifted its holdings in shares of APA Co. (NASDAQ:APA) by 9.0% during the 3rd quarter, Holdings Channel reports. The firm owned 63,153 shares of the company’s stock after purchasing an additional 5,202 shares during the period. CIBC Asset Management Inc’s holdings in APA were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ING Groep NV grew its position in APA by 1.7% during the third quarter. ING Groep NV now owns 61,382 shares of the company’s stock worth $1,501,000 after buying an additional 1,021 shares in the last quarter. Huntington National Bank grew its holdings in shares of APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of APA by 13.6% in the third quarter. Oppenheimer & Co. Inc. now owns 75,655 shares of the company’s stock worth $1,851,000 after purchasing an additional 9,081 shares during the period. Victory Capital Management Inc. raised its stake in APA by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock valued at $30,852,000 after purchasing an additional 149,762 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in APA by 3.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,026,239 shares of the company’s stock worth $25,102,000 after purchasing an additional 38,651 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on APA shares. Mizuho decreased their target price on shares of APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Scotiabank lowered their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company reduced their target price on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Barclays lowered their price target on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, November 8th. Finally, Evercore ISI reduced their price objective on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.81.

APA Price Performance

Shares of APA opened at $21.92 on Wednesday. APA Co. has a 1-year low of $21.15 and a 1-year high of $37.82. The firm has a fifty day simple moving average of $24.42 and a two-hundred day simple moving average of $27.55. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market cap of $8.11 billion, a PE ratio of 3.10 and a beta of 3.24.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is 14.12%.

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.