Synovus Financial Corp Increases Stake in APA Co. (NASDAQ:APA)

Synovus Financial Corp grew its position in APA Co. (NASDAQ:APA) by 144.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,925 shares of the company’s stock after acquiring an additional 18,268 shares during the quarter. Synovus Financial Corp’s holdings in APA were worth $756,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in APA. TD Private Client Wealth LLC lifted its holdings in APA by 84.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after buying an additional 540 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new stake in APA during the 2nd quarter valued at about $42,000. Huntington National Bank lifted its holdings in APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after buying an additional 561 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after buying an additional 1,604 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Down 4.1 %

NASDAQ:APA opened at $21.05 on Wednesday. The company has a market cap of $7.79 billion, a PE ratio of 2.97 and a beta of 3.18. APA Co. has a twelve month low of $20.45 and a twelve month 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 company’s 50 day moving average is $23.30 and its two-hundred day moving average is $26.44.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s dividend payout ratio is presently 14.12%.

Insiders Place Their Bets

In other news, Director Juliet S. Ellis bought 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now directly owns 12,436 shares in the company, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group decreased their price objective on shares of APA from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Mizuho reduced their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a report on Monday. Truist Financial reduced their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a report on Friday, November 8th. Piper Sandler reduced their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada reduced their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, APA presently has an average rating of “Hold” and a consensus target price of $31.14.

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.