Rockefeller Capital Management L.P. Trims Position in APA Co. (NASDAQ:APA)

Rockefeller Capital Management L.P. lowered its position in APA Co. (NASDAQ:APA) by 41.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APA. Scotiabank decreased their price target on APA from $26.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $23.00 target price on shares of APA in a research report on Wednesday, March 19th. Wells Fargo & Company dropped their price target on shares of APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Piper Sandler decreased their price objective on shares of APA from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Susquehanna dropped their target price on shares of APA from $31.00 to $30.00 and set a “positive” rating for the company in a report on Tuesday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.11.

APA Stock Performance

Shares of APA stock opened at $15.66 on Thursday. The business has a 50-day simple moving average of $18.99 and a 200-day simple moving average of $21.75. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a one year low of $13.58 and a one year high of $33.41. The company has a market cap of $5.66 billion, a PE ratio of 2.21 and a beta of 2.74.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. On average, equities research analysts forecast that APA Co. will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

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

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.