South Dakota Investment Council Raises Holdings in APA Co. (NASDAQ:APA)

South Dakota Investment Council boosted its stake in shares of APA Co. (NASDAQ:APA) by 96.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 774,245 shares of the company’s stock after acquiring an additional 380,510 shares during the period. South Dakota Investment Council’s holdings in APA were worth $17,877,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of APA. TD Private Client Wealth LLC increased its holdings in shares of APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after acquiring an additional 586 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of APA by 93.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock valued at $37,000 after acquiring an additional 780 shares during the last quarter. Huntington National Bank increased its holdings in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after acquiring an additional 561 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of APA by 596.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,124 shares of the company’s stock valued at $49,000 after acquiring an additional 1,819 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Price Performance

APA stock opened at $22.79 on Friday. APA Co. has a 52-week low of $20.32 and a 52-week high of $36.04. The stock’s fifty day simple moving average is $22.92 and its 200-day simple moving average is $24.24. 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 stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 3.22 and a beta of 3.15.

APA Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is currently 14.12%.

Insider Activity at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of APA stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the purchase, 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 document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on APA. Raymond James increased their price objective on APA from $44.00 to $45.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. UBS Group decreased their price objective on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price objective on shares of APA in a research report on Thursday, January 23rd. Truist Financial decreased their price objective on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Mizuho decreased their price objective on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, APA has a consensus rating of “Hold” and a consensus price target of $30.65.

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.