Envestnet Asset Management Inc. Has $4.64 Million Position in APA Co. (NASDAQ:APA)

Envestnet Asset Management Inc. lessened its stake in shares of APA Co. (NASDAQ:APA) by 7.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 200,787 shares of the company’s stock after selling 15,937 shares during the period. Envestnet Asset Management Inc.’s holdings in APA were worth $4,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Payden & Rygel acquired a new stake in APA during the fourth quarter worth about $1,143,000. Wedbush Securities Inc. bought a new stake in shares of APA during the 4th quarter worth approximately $222,000. Annandale Capital LLC acquired a new stake in shares of APA during the 4th quarter worth approximately $288,000. Pilgrim Partners Asia Pte Ltd bought a new position in APA in the fourth quarter valued at approximately $55,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in APA during the fourth quarter valued at approximately $2,617,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on APA. Susquehanna reduced their target price on APA from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their price objective on APA from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Barclays lowered their target price on APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. The Goldman Sachs Group restated a “sell” rating and issued a $23.00 price target on shares of APA in a research note on Wednesday, March 19th. Finally, Scotiabank decreased their price target on shares of APA from $26.00 to $14.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.11.

APA Trading Up 2.3 %

NASDAQ APA opened at $15.86 on Wednesday. APA Co. has a 12 month low of $13.58 and a 12 month high of $33.41. 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 $5.74 billion, a PE ratio of 2.24 and a beta of 2.74. The business’s 50-day moving average price is $19.14 and its two-hundred day moving average price is $21.80.

APA (NASDAQ:APA) last released its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. On average, analysts expect that APA Co. will post 4.03 EPS for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is presently 44.25%.

APA Company 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.