Wellington Management Group LLP Reduces Position in APA Co. (NASDAQ:APA)

Wellington Management Group LLP reduced its stake in shares of APA Co. (NASDAQ:APA) by 69.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 204,031 shares of the company’s stock after selling 469,557 shares during the period. Wellington Management Group LLP owned approximately 0.06% of APA worth $4,991,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in APA. Woodstock Corp increased its holdings in APA by 20.3% in the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company’s stock worth $7,540,000 after buying an additional 51,993 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of APA by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after acquiring an additional 485,291 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of APA during the third quarter worth $7,238,000. Ellis Investment Partners LLC acquired a new position in APA during the second quarter valued at $2,499,000. Finally, Victory Capital Management Inc. boosted its holdings in APA by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company’s stock valued at $30,852,000 after purchasing an additional 149,762 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Juliet S. Ellis purchased 4,391 shares of the stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now owns 12,436 shares in the company, valued at $283,292.08. The trade was a 54.58 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

APA Price Performance

APA stock opened at $21.94 on Tuesday. The company has a fifty day simple moving average of $23.41 and a 200-day simple moving average of $26.51. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 3.10 and a beta of 3.18. APA Co. has a 52-week low of $20.95 and a 52-week high of $37.82.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Wednesday, January 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.56%. APA’s payout ratio is 14.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on APA shares. Citigroup decreased their price objective on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Royal Bank of Canada lowered their price objective on APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Scotiabank cut their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group dropped their price target on shares of APA from $26.00 to $25.00 in a research report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.33.

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.