Integrated Wealth Concepts LLC Sells 1,560 Shares of APA Co. (NASDAQ:APA)

Integrated Wealth Concepts LLC cut its stake in shares of APA Co. (NASDAQ:APA) by 6.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,914 shares of the company’s stock after selling 1,560 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in APA were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of APA by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 9,507,956 shares of the company’s stock worth $219,016,000 after acquiring an additional 200,770 shares during the period. Janney Montgomery Scott LLC boosted its position in APA by 22.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company’s stock worth $1,503,000 after purchasing an additional 12,077 shares during the last quarter. US Bancorp DE grew its stake in shares of APA by 2.2% during the 4th quarter. US Bancorp DE now owns 47,719 shares of the company’s stock valued at $1,102,000 after purchasing an additional 1,010 shares during the period. Baader Bank Aktiengesellschaft increased its position in shares of APA by 175.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 23,500 shares of the company’s stock valued at $543,000 after purchasing an additional 14,980 shares during the last quarter. Finally, Country Club Bank lifted its stake in shares of APA by 148.8% in the 4th quarter. Country Club Bank now owns 181,420 shares of the company’s stock worth $4,067,000 after purchasing an additional 108,492 shares during the period. 83.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays reduced their target price on shares of APA from $25.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Scotiabank cut their price target on APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Susquehanna decreased their price objective on APA from $31.00 to $30.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James downgraded APA from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $45.00 to $32.00 in a research note on Monday, March 10th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.79.

APA Stock Up 1.5 %

Shares of APA stock opened at $16.46 on Friday. The company’s fifty day simple moving average is $18.02 and its two-hundred day simple moving average is $21.26. APA Co. has a 52 week low of $13.58 and a 52 week high of $33.41. The stock has a market cap of $5.95 billion, a P/E ratio of 2.32 and a beta of 2.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). The firm had revenue of $2.50 billion during 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%. Analysts predict that APA Co. will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is presently 44.25%.

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.