State Street Corp Sells 1,105,950 Shares of APA Co. (NASDAQ:APA)

State Street Corp trimmed its position in APA Co. (NASDAQ:APA) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,912,921 shares of the company’s stock after selling 1,105,950 shares during the quarter. State Street Corp owned about 6.73% of APA worth $609,370,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. grew its position in APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares in the last quarter. Rothschild Investment LLC purchased a new position in APA in the second quarter worth about $42,000. GPS Wealth Strategies Group LLC grew its position in APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares in the last quarter. Huntington National Bank grew its position in APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of APA by 164.2% during the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after buying an additional 1,604 shares during the period. 83.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Bernstein Bank dropped their target price on APA from $30.00 to $28.00 in a research report on Friday, October 18th. Piper Sandler dropped their target price on APA from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Barclays dropped their target price 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. Citigroup dropped their target price on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Finally, Scotiabank dropped their target price 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. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.57.

APA Stock Performance

Shares of APA stock opened at $21.42 on Monday. The business’s fifty day simple moving average is $23.84 and its 200-day simple moving average is $26.80. The company has a market cap of $7.92 billion, a PE ratio of 3.03 and a beta of 3.18. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. APA Co. has a 12-month low of $20.95 and a 12-month high of $37.82.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend was Tuesday, October 22nd. APA’s payout ratio is presently 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.