Mackenzie Financial Corp reduced its position in APA Co. (NASDAQ:APA) by 42.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,879 shares of the company’s stock after selling 44,076 shares during the period. Mackenzie Financial Corp’s holdings in APA were worth $1,283,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in APA. Pinnacle Bancorp Inc. purchased a new position in APA in the 3rd quarter worth approximately $39,000. Rockefeller Capital Management L.P. raised its holdings in APA by 64.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,218 shares of the company’s stock worth $47,000 after acquiring an additional 866 shares during the last quarter. Berman Capital Advisors LLC raised its holdings in APA by 227.5% in the 3rd quarter. Berman Capital Advisors LLC now owns 2,394 shares of the company’s stock worth $51,000 after acquiring an additional 1,663 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in APA by 35.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,961 shares of the company’s stock worth $63,000 after acquiring an additional 774 shares during the last quarter. Finally, Sentry Investment Management LLC raised its holdings in APA by 1,547.3% in the 3rd quarter. Sentry Investment Management LLC now owns 3,690 shares of the company’s stock worth $79,000 after acquiring an additional 3,466 shares during the last quarter. Institutional investors own 86.34% of the company’s stock.
A number of equities research analysts have commented on APA shares. Scotiabank lifted their target price on shares of APA from $36.00 to $38.00 in a research report on Thursday. Stifel Nicolaus lifted their target price on shares of APA from $33.00 to $37.00 in a research report on Tuesday, January 4th. Stifel Europe lifted their target price on shares of APA from $33.00 to $37.00 in a research report on Tuesday, January 4th. TheStreet raised shares of APA from a “d+” rating to a “c-” rating in a research report on Tuesday, October 19th. Finally, Piper Sandler lifted their target price on shares of APA from $21.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 21st. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, APA has an average rating of “Buy” and a consensus price target of $34.55.
APA (NASDAQ:APA) last issued its earnings results on Wednesday, November 3rd. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.09. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. APA had a net margin of 8.91% and a negative return on equity of 393.47%. During the same quarter in the prior year, the firm posted ($0.16) EPS. Analysts forecast that APA Co. will post 4.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 22nd. Investors of record on Friday, January 21st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, January 20th. This represents a $0.50 annualized dividend and a yield of 1.50%. This is an increase from APA’s previous quarterly dividend of $0.06. APA’s dividend payout ratio is currently 16.67%.
APA Company Profile
APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. The company was founded in 1954 and is headquartered in Houston, TX.
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