Ellis Investment Partners LLC Trims Stock Holdings in APA Co. (NASDAQ:APA)

Ellis Investment Partners LLC cut its holdings in shares of APA Co. (NASDAQ:APA) by 13.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 91,770 shares of the company’s stock after selling 13,970 shares during the quarter. Ellis Investment Partners LLC’s holdings in APA were worth $2,119,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its holdings in APA by 12.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after acquiring an additional 3,411,270 shares in the last quarter. Harris Associates L P raised its stake in shares of APA by 20.8% in the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after purchasing an additional 485,291 shares during the last quarter. Smead Capital Management Inc. grew its stake in APA by 3.5% in the third quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after purchasing an additional 326,042 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in APA by 2.5% in the third quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock valued at $226,928,000 after buying an additional 224,547 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

Shares of NASDAQ APA opened at $23.14 on Friday. APA Co. has a 1 year low of $20.32 and a 1 year high of $36.04. The firm has a market cap of $8.56 billion, a P/E ratio of 3.27 and a beta of 3.15. The stock has a fifty day moving average price of $22.84 and a two-hundred day moving average price of $24.45. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24.

APA Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s payout ratio is currently 14.12%.

Wall Street Analysts Forecast Growth

APA has been the topic of a number of research analyst reports. Mizuho reduced their target price on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday, December 16th. The Goldman Sachs Group decreased their price objective on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a report on Friday, January 3rd. Citigroup dropped their target price on shares of APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. UBS Group decreased their price target on shares of APA from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.65.

Insiders Place Their Bets

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the transaction, the director now owns 12,436 shares in the company, valued at $283,292.08. This represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

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.