Kingsview Wealth Management LLC Lowers Stock Position in APA Co. (NASDAQ:APA)

Kingsview Wealth Management LLC reduced its position in shares of APA Co. (NASDAQ:APA) by 68.7% during the third quarter, Holdings Channel reports. The firm owned 10,265 shares of the company’s stock after selling 22,567 shares during the period. Kingsview Wealth Management LLC’s holdings in APA were worth $251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of APA by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after buying an additional 485,291 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in APA by 3.5% during the third quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after acquiring an additional 326,042 shares during the period. Dimensional Fund Advisors LP boosted its position in APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares during the last quarter. Bank of New York Mellon Corp grew its stake in APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after purchasing an additional 455,312 shares during the period. Finally, LSV Asset Management increased its position in shares of APA by 4.9% during the 2nd quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock valued at $81,193,000 after purchasing an additional 129,841 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Performance

APA stock opened at $22.65 on Friday. APA Co. has a 1-year low of $21.15 and a 1-year high of $37.82. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $8.38 billion, a PE ratio of 3.18 and a beta of 3.24. The firm’s 50 day simple moving average is $24.15 and its 200 day simple moving average is $27.20.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.42%. APA’s dividend payout ratio (DPR) is presently 14.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APA shares. UBS Group cut their price target on shares of APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company dropped their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Evercore ISI decreased their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Citigroup dropped their price objective on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Truist Financial decreased their target price on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.57.

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.