Bank of New York Mellon Corp Reduces Stock Position in APA Co. (NASDAQ:APA)

Bank of New York Mellon Corp reduced its holdings in APA Co. (NASDAQ:APA – Get Rating) by 2.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,864,925 shares of the company’s stock after selling 112,334 shares during the period. Bank of New York Mellon Corp’s holdings in APA were worth $132,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Trust N.A. grew its stake in shares of APA by 9.5% in the 3rd quarter. Raymond James Trust N.A. now owns 11,843 shares of the company’s stock worth $405,000 after buying an additional 1,031 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of APA by 11.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 22,554 shares of the company’s stock worth $771,000 after acquiring an additional 2,374 shares during the last quarter. UBS Oconnor LLC bought a new stake in shares of APA in the 3rd quarter worth about $1,366,000. Bridgewater Associates LP lifted its holdings in shares of APA by 3,836.7% in the 2nd quarter. Bridgewater Associates LP now owns 674,995 shares of the company’s stock worth $23,557,000 after acquiring an additional 657,849 shares during the last quarter. Finally, Westpac Banking Corp lifted its holdings in shares of APA by 23.7% in the 3rd quarter. Westpac Banking Corp now owns 138,948 shares of the company’s stock worth $4,751,000 after acquiring an additional 26,663 shares during the last quarter. 80.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APA. TheStreet upgraded shares of APA from a “c” rating to a “b-” rating in a report on Thursday, February 23rd. Roth Capital restated a “buy” rating on shares of APA in a report on Wednesday, February 8th. Barclays decreased their price objective on shares of APA from $55.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. Mizuho decreased their price objective on shares of APA from $49.00 to $45.00 in a report on Friday, March 10th. Finally, Bank of America reiterated a “buy” rating and set a $65.00 price objective on shares of APA in a report on Wednesday, November 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.29.

APA Stock Down 3.3 %

Shares of APA stock opened at $31.74 on Friday. The firm’s 50 day moving average price is $39.13 and its 200-day moving average price is $43.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 4.05. APA Co. has a 52-week low of $30.15 and a 52-week high of $51.95. The company has a market cap of $9.87 billion, a P/E ratio of 2.94, a PEG ratio of 0.20 and a beta of 3.52.

APA (NASDAQ:APA – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. APA had a net margin of 34.14% and a return on equity of 198.44%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts predict that APA Co. will post 6.35 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 22nd. Shareholders of record on Friday, April 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, April 20th. APA’s dividend payout ratio is presently 9.26%.

APA Profile

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APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the United States, Egypt and the United Kingdom, and exploration activities offshore in Suriname. The company was founded in 1954 and is headquartered in Houston, TX.