Rockefeller Capital Management L.P. Decreases Stake in APA Co. (NASDAQ:APA)

Rockefeller Capital Management L.P. cut its stake in shares of APA Co. (NASDAQ:APA) by 41.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,861 shares of the company’s stock after selling 11,446 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in APA were worth $369,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Quinn Opportunity Partners LLC increased its holdings in APA by 1.8% in the 4th quarter. Quinn Opportunity Partners LLC now owns 290,327 shares of the company’s stock worth $6,704,000 after buying an additional 5,000 shares during the period. Covestor Ltd boosted its holdings in shares of APA by 86.1% in the 4th quarter. Covestor Ltd now owns 5,757 shares of the company’s stock valued at $133,000 after acquiring an additional 2,664 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of APA by 27.0% in the fourth quarter. Neuberger Berman Group LLC now owns 18,235 shares of the company’s stock worth $421,000 after acquiring an additional 3,880 shares during the period. DRW Securities LLC purchased a new position in shares of APA during the fourth quarter worth $1,818,000. Finally, Raymond James Financial Inc. acquired a new position in APA during the fourth quarter valued at $14,524,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

Shares of NASDAQ:APA opened at $15.66 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA Co. has a 1 year low of $13.58 and a 1 year high of $33.41. The firm has a market capitalization of $5.66 billion, a PE ratio of 2.21 and a beta of 2.74. The business’s 50 day moving average price is $18.99 and its 200-day moving average price is $21.75.

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

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is 44.25%.

Analysts Set New Price Targets

APA has been the topic of several analyst reports. Barclays cut their price target on APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Royal Bank of Canada dropped their target price on APA from $27.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Piper Sandler decreased their price target on APA from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company decreased their target price on shares of APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.11.

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.