Geode Capital Management LLC Raises Stock Holdings in APA Co. (NASDAQ:APA)

Geode Capital Management LLC grew its position in APA Co. (NASDAQ:APA) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,507,956 shares of the company’s stock after acquiring an additional 200,770 shares during the quarter. Geode Capital Management LLC owned about 2.57% of APA worth $219,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Franklin Resources Inc. lifted its position in APA by 42.2% during the 4th quarter. Franklin Resources Inc. now owns 461,901 shares of the company’s stock worth $10,665,000 after acquiring an additional 137,014 shares during the period. Schroder Investment Management Group raised its stake in shares of APA by 73.8% during the fourth quarter. Schroder Investment Management Group now owns 807,142 shares of the company’s stock worth $18,096,000 after purchasing an additional 342,698 shares during the last quarter. Allianz SE acquired a new stake in shares of APA during the fourth quarter worth $149,000. Allstate Corp purchased a new position in APA in the 4th quarter valued at $235,000. Finally, Brown Brothers Harriman & Co. increased its stake in APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after buying an additional 1,077 shares during the period. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on APA shares. Piper Sandler reduced their price objective on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Mizuho reduced their price target on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday, December 16th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $23.00 price objective on shares of APA in a report on Wednesday, March 19th. Citigroup reduced their target price on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Finally, Susquehanna lowered their price target on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.68.

APA Stock Down 14.4 %

APA opened at $15.18 on Friday. APA Co. has a 12 month low of $14.86 and a 12 month high of $36.05. The business has a 50-day moving average of $21.14 and a two-hundred day moving average of $22.74. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 2.14 and a beta of 2.73.

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

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.59%. APA’s payout ratio is 44.25%.

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.