New York Life Investment Management LLC Sells 374 Shares of APA Co. (NASDAQ:APA)

New York Life Investment Management LLC decreased its position in shares of APA Co. (NASDAQ:APA) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,755 shares of the company’s stock after selling 374 shares during the period. New York Life Investment Management LLC’s holdings in APA were worth $1,570,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in APA. Daiwa Securities Group Inc. raised its holdings in shares of APA by 28.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock worth $1,193,000 after acquiring an additional 7,461 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in APA by 3.2% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock valued at $44,412,000 after purchasing an additional 38,505 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of APA in the 4th quarter worth $95,000. AustralianSuper Pty Ltd increased its holdings in shares of APA by 14.3% in the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock worth $26,053,000 after buying an additional 90,610 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of APA by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock valued at $104,037,000 after buying an additional 24,182 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Price Performance

Shares of APA stock opened at $29.92 on Tuesday. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 3.35 and a beta of 3.29. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50-day simple moving average is $32.52 and its 200-day simple moving average is $34.01. APA Co. has a fifty-two week low of $28.90 and a fifty-two week high of $46.15.

APA (NASDAQ:APA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS. As a group, equities analysts forecast that APA Co. will post 5.03 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.34%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James reduced their price objective on APA from $44.00 to $43.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price target on shares of APA in a report on Monday, April 8th. Truist Financial dropped their price objective on shares of APA from $59.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Morgan Stanley reissued an “underweight” rating and issued a $28.00 target price on shares of APA in a research note on Monday, April 15th. Finally, Barclays cut their price target on shares of APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.05.

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.