Sterneck Capital Management LLC Increases Holdings in APA Co. (NASDAQ:APA)

Sterneck Capital Management LLC raised its holdings in shares of APA Co. (NASDAQ:APA) by 18.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,250 shares of the company’s stock after buying an additional 1,725 shares during the period. Sterneck Capital Management LLC’s holdings in APA were worth $260,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its holdings in APA by 25.8% during the second quarter. Commonwealth Equity Services LLC now owns 73,616 shares of the company’s stock valued at $2,167,000 after purchasing an additional 15,119 shares in the last quarter. TD Asset Management Inc raised its holdings in APA by 3.5% during the second quarter. TD Asset Management Inc now owns 251,940 shares of the company’s stock valued at $7,417,000 after acquiring an additional 8,631 shares during the period. National Bank of Canada FI lifted its position in shares of APA by 28.6% in the second quarter. National Bank of Canada FI now owns 135,174 shares of the company’s stock valued at $4,005,000 after acquiring an additional 30,077 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of APA by 17.2% in the second quarter. Victory Capital Management Inc. now owns 1,111,562 shares of the company’s stock worth $32,724,000 after acquiring an additional 163,409 shares during the period. Finally, Arizona State Retirement System grew its position in shares of APA by 22.1% during the second quarter. Arizona State Retirement System now owns 101,755 shares of the company’s stock worth $2,996,000 after purchasing an additional 18,400 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

Insider Transactions at APA

In related news, Director Juliet S. Ellis bought 4,391 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now directly owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on APA shares. Bernstein Bank lowered their price target on APA from $30.00 to $28.00 in a report on Friday, October 18th. Royal Bank of Canada cut their target price on shares of APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Barclays decreased their price target on shares of APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, November 8th. Scotiabank cut their price objective on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Piper Sandler decreased their target price on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.55.

APA Stock Performance

APA stock opened at $23.66 on Wednesday. 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 firm has a market capitalization of $8.75 billion, a P/E ratio of 3.34 and a beta of 3.16. APA Co. has a 1-year low of $20.32 and a 1-year high of $36.04. The company’s 50-day moving average is $22.43 and its 200 day moving average is $25.76.

APA Announces Dividend

The firm also recently announced 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 4.23%. APA’s payout ratio 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.