APA Co. (NASDAQ:APA) Stake Boosted by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of APA Co. (NASDAQ:APA) by 42.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 461,901 shares of the company’s stock after purchasing an additional 137,014 shares during the quarter. Franklin Resources Inc. owned about 0.12% of APA worth $10,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp grew its position in APA by 0.6% in the 4th quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock worth $1,780,000 after purchasing an additional 469 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares in the last quarter. Asset Management One Co. Ltd. increased its position in APA by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock valued at $3,070,000 after acquiring an additional 544 shares during the period. Segment Wealth Management LLC raised its stake in APA by 1.1% during the 4th quarter. Segment Wealth Management LLC now owns 54,938 shares of the company’s stock valued at $1,269,000 after acquiring an additional 571 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted 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 acquiring an additional 586 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Trading Down 6.2 %

APA stock opened at $14.03 on Wednesday. APA Co. has a 52 week low of $13.73 and a 52 week high of $35.33. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 1.98 and a beta of 2.74. The company has a 50 day moving average price of $20.60 and a 200 day moving average price of $22.51.

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). APA had a return on equity of 27.86% and a net margin of 24.36%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. Research analysts forecast that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a yield of 7.13%. APA’s dividend payout ratio (DPR) is presently 44.25%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays cut their price objective on shares of APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $23.00 price target on shares of APA in a research note on Wednesday, March 19th. Mizuho lowered their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. Morgan Stanley set a $22.00 target price on APA and gave the stock an “underweight” rating in a research report on Wednesday, March 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 price target on shares of APA in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.68.

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.