CIBC Private Wealth Group LLC Sells 1,417 Shares of APA Co. (NASDAQ:APA)

CIBC Private Wealth Group LLC decreased its position in APA Co. (NASDAQ:APA) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,479 shares of the company’s stock after selling 1,417 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in APA were worth $224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of APA by 29.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock worth $94,500,000 after buying an additional 929,770 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in APA by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock worth $297,540,000 after acquiring an additional 894,574 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of APA in the fourth quarter worth $14,524,000. South Dakota Investment Council grew its stake in shares of APA by 96.6% in the fourth quarter. South Dakota Investment Council now owns 774,245 shares of the company’s stock worth $17,877,000 after acquiring an additional 380,510 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new position in shares of APA during the fourth quarter valued at $8,282,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Down 14.4 %

Shares of APA stock opened at $15.18 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 2.14 and a beta of 2.73. APA Co. has a 1 year low of $14.38 and a 1 year high of $36.05. The firm has a fifty day moving average price of $21.14 and a 200-day moving average price of $22.72.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.31 billion. As a group, equities analysts predict that APA Co. will post 4.03 earnings per share for the current year.

APA Announces Dividend

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 annualized dividend and a yield of 6.59%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio is 44.25%.

Wall Street Analyst Weigh In

Several analysts recently commented on APA shares. UBS Group cut their price objective on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Morgan Stanley set a $22.00 price target on shares of APA and gave the company an “underweight” rating in a report on Wednesday, March 26th. The Goldman Sachs Group restated a “sell” rating and issued a $23.00 price objective on shares of APA in a report on Wednesday, March 19th. Barclays reduced their target price on APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Finally, Wells Fargo & Company lowered their price target on APA from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.68.

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.