Bank of New York Mellon Corp Increases Stock Position in APA Co. (NASDAQ:APA)

Bank of New York Mellon Corp grew its stake in APA Co. (NASDAQ:APA) by 29.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,092,666 shares of the company’s stock after acquiring an additional 929,770 shares during the period. Bank of New York Mellon Corp’s holdings in APA were worth $94,500,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC lifted its position in shares of APA by 86.8% during the fourth quarter. Rothschild Investment LLC now owns 2,087 shares of the company’s stock worth $48,000 after purchasing an additional 970 shares in the last quarter. South Dakota Investment Council increased its stake in shares of APA by 96.6% during the fourth quarter. South Dakota Investment Council now owns 774,245 shares of the company’s stock worth $17,877,000 after buying an additional 380,510 shares during the period. Howard Capital Management Inc. increased its stake in shares of APA by 13.3% during the fourth quarter. Howard Capital Management Inc. now owns 88,310 shares of the company’s stock worth $2,039,000 after buying an additional 10,394 shares during the period. Transcend Capital Advisors LLC lifted its stake in APA by 6.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,449 shares of the company’s stock worth $241,000 after acquiring an additional 643 shares during the last quarter. Finally, Compass Capital Corp MA ADV acquired a new position in APA during the 4th quarter worth approximately $468,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Up 1.4 %

APA stock opened at $20.70 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a one year low of $19.84 and a one year high of $36.04. The stock has a market capitalization of $7.66 billion, a PE ratio of 2.92 and a beta of 3.15. The company has a fifty day moving average of $22.98 and a 200-day moving average of $23.98.

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

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.83%. APA’s dividend payout ratio (DPR) is presently 44.25%.

Wall Street Analysts Forecast Growth

APA has been the topic of a number of analyst reports. Mizuho reduced their price objective 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. JPMorgan Chase & Co. decreased their price target on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Piper Sandler dropped their price objective on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Truist Financial lowered their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, UBS Group cut their price target on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.65.

Insider Activity

In other news, Director Juliet S. Ellis purchased 4,391 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $22.78 per share, with a total value of $100,026.98. Following the purchase, the director now directly owns 12,436 shares of the company’s stock, valued at $283,292.08. This represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

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.