Sumitomo Mitsui Trust Group Inc. Raises Stake in APA Co. (NASDAQ:APA)

Sumitomo Mitsui Trust Group Inc. increased its stake in APA Co. (NASDAQ:APA) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,119,648 shares of the company’s stock after purchasing an additional 93,409 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.30% of APA worth $25,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APA. Country Club Bank increased its holdings in APA by 148.8% in the fourth quarter. Country Club Bank now owns 181,420 shares of the company’s stock valued at $4,067,000 after buying an additional 108,492 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of APA by 24.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 308,112 shares of the company’s stock worth $6,806,000 after acquiring an additional 60,245 shares during the period. Ping Capital Management Inc. acquired a new position in APA during the fourth quarter worth $231,000. Mather Group LLC. boosted its position in APA by 100.4% during the fourth quarter. Mather Group LLC. now owns 5,960 shares of the company’s stock worth $138,000 after purchasing an additional 2,986 shares in the last quarter. Finally, Verity Asset Management Inc. acquired a new stake in APA in the fourth quarter valued at $286,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APA. Susquehanna cut their price target on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Truist Financial dropped their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Raymond James upped their target price on APA from $44.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group dropped their price target on APA from $25.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.65.

APA Stock Performance

APA stock opened at $23.31 on Wednesday. APA Co. has a 1 year low of $20.32 and a 1 year high of $36.04. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 3.29 and a beta of 3.15. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s fifty day moving average is $22.79 and its two-hundred day moving average is $24.57.

APA Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is 14.12%.

Insiders Place Their Bets

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

About APA

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.