Stifel Financial Corp Trims Holdings in APA Co. (NASDAQ:APA)

Stifel Financial Corp cut its position in shares of APA Co. (NASDAQ:APA) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 582,247 shares of the company’s stock after selling 84,345 shares during the quarter. Stifel Financial Corp owned approximately 0.16% of APA worth $14,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Woodstock Corp boosted its stake in APA by 20.3% in the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company’s stock worth $7,540,000 after buying an additional 51,993 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of APA by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after acquiring an additional 485,291 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in APA in the third quarter valued at approximately $7,238,000. Ellis Investment Partners LLC acquired a new position in APA during the second quarter worth approximately $2,499,000. Finally, Victory Capital Management Inc. raised its stake in APA by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock worth $30,852,000 after purchasing an additional 149,762 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Price Performance

APA stock opened at $22.26 on Wednesday. The stock’s 50 day moving average is $23.73 and its two-hundred day moving average is $26.70. APA Co. has a 52-week low of $20.95 and a 52-week high of $37.82. The company has a market capitalization of $8.24 billion, a PE ratio of 3.14 and a beta of 3.19. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Evercore ISI lowered their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Piper Sandler dropped their price target on APA from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Royal Bank of Canada reduced their price objective on APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. Bernstein Bank dropped their target price on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. 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 stock. Based on data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $32.52.

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.