1776 Wealth LLC Reduces Holdings in APA Co. (NASDAQ:APA)

1776 Wealth LLC trimmed its holdings in shares of APA Co. (NASDAQ:APA) by 7.1% in the third quarter, HoldingsChannel reports. The firm owned 18,403 shares of the company’s stock after selling 1,416 shares during the period. 1776 Wealth LLC’s holdings in APA were worth $450,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Covestor Ltd increased its stake in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of APA during the 2nd quarter worth approximately $42,000. GPS Wealth Strategies Group LLC increased its stake in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on APA shares. The Goldman Sachs Group lowered their target price on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. Susquehanna lowered their target price on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Bernstein Bank lowered their target price on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. Piper Sandler lowered their target price on shares of APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, Scotiabank lowered their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.95.

APA Stock Down 1.0 %

Shares of NASDAQ:APA traded down $0.22 during midday trading on Friday, hitting $22.38. 7,335,787 shares of the company’s stock traded hands, compared to its average volume of 6,269,920. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $8.28 billion, a PE ratio of 3.16 and a beta of 3.24. The firm’s fifty day moving average price is $24.51 and its two-hundred day moving average price is $27.69. APA Co. has a twelve month low of $21.15 and a twelve month high of $37.82.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 14.12%.

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.