Sanctuary Advisors LLC Has $266,000 Stake in APA Co. (NASDAQ:APA)

Sanctuary Advisors LLC raised its stake in shares of APA Co. (NASDAQ:APA) by 23.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,678 shares of the company’s stock after purchasing an additional 2,185 shares during the quarter. Sanctuary Advisors LLC’s holdings in APA were worth $266,000 at the end of the most recent quarter.

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

APA Stock Performance

NASDAQ APA opened at $22.09 on Friday. The firm’s fifty day moving average price is $22.60 and its two-hundred day moving average price is $26.02. APA Co. has a 1 year low of $20.32 and a 1 year high of $37.09. The firm has a market capitalization of $8.17 billion, a P/E ratio of 3.12 and a beta of 3.18. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a yield of 4.53%. APA’s dividend payout ratio (DPR) is currently 14.12%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APA. Wells Fargo & Company cut APA from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $42.00 to $25.00 in a research note on Tuesday, December 17th. UBS Group lowered their target price on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Piper Sandler cut their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. The Goldman Sachs Group lowered their price objective on shares of APA from $26.00 to $25.00 in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.14.

Insiders Place Their Bets

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

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.