The Manufacturers Life Insurance Company Boosts Stake in APA Co. (NASDAQ:APA)

The Manufacturers Life Insurance Company lifted its holdings in APA Co. (NASDAQ:APA) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 302,301 shares of the company’s stock after purchasing an additional 9,033 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in APA were worth $7,394,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its holdings in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of APA in the second quarter worth $42,000. GPS Wealth Strategies Group LLC raised its holdings in shares of 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 during the last quarter. Huntington National Bank raised its holdings in shares of 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 during the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of APA in the second quarter worth $57,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Trading Down 1.0 %

Shares of NASDAQ APA opened at $22.20 on Thursday. 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’s 50 day moving average price is $23.98 and its two-hundred day moving average price is $26.99. The stock has a market capitalization of $8.21 billion, a P/E ratio of 3.12 and a beta of 3.18. APA Co. has a 52-week low of $21.15 and a 52-week high of $37.82.

APA Dividend Announcement

The business 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 4.50%. The ex-dividend date was Tuesday, October 22nd. APA’s payout ratio is 14.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on APA shares. Wells Fargo & Company cut their price target on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Truist Financial dropped their target price on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Evercore ISI dropped their target price on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Bernstein Bank dropped their target price on APA from $30.00 to $28.00 in a research note on Friday, October 18th. Finally, 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 note on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus target price of $32.57.

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.