M.E. Allison & CO. Inc. Invests $351,000 in APA Co. (NASDAQ:APA)

M.E. Allison & CO. Inc. purchased a new position in shares of APA Co. (NASDAQ:APA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,200 shares of the company’s stock, valued at approximately $351,000.

Several other large investors also recently made changes to their positions in the stock. TD Private Client Wealth LLC boosted its stake in APA by 84.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the period. Huntington National Bank lifted its position in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares during the period. Eastern Bank lifted its position in shares of APA by 355.0% in the 4th quarter. Eastern Bank now owns 2,275 shares of the company’s stock worth $53,000 after acquiring an additional 1,775 shares during the period. Blue Trust Inc. lifted its position in shares of APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after acquiring an additional 1,604 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of APA in the 2nd quarter worth approximately $76,000. Institutional investors own 83.01% of the company’s stock.

APA Price Performance

Shares of APA opened at $24.40 on Monday. The company has a 50 day moving average of $22.62 and a 200-day moving average of $25.49. 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 $9.03 billion, a P/E ratio of 3.45 and a beta of 3.16. APA Co. has a twelve month low of $20.32 and a twelve month high of $36.04.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders 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 dividend on an annualized basis and a yield of 4.10%. APA’s dividend payout ratio is 14.12%.

Analyst Ratings Changes

A number of analysts have commented on APA shares. JPMorgan Chase & Co. reduced their price objective on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Barclays reduced their price objective on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. Evercore ISI reduced their price objective on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Mizuho lowered their price objective on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. Finally, Wells Fargo & Company downgraded APA from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $42.00 to $25.00 in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.55.

Insiders Place Their Bets

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

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.