Principal Financial Group Inc. Increases Holdings in APA Co. (NASDAQ:APA)

Principal Financial Group Inc. raised its holdings in shares of APA Co. (NASDAQ:APA) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 456,922 shares of the company’s stock after acquiring an additional 13,557 shares during the period. Principal Financial Group Inc.’s holdings in APA were worth $11,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Citizens Financial Group Inc. RI lifted its stake in APA by 6.7% in the second quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after acquiring an additional 429 shares during the period. Signaturefd LLC raised its stake in APA by 7.1% in the second quarter. Signaturefd LLC now owns 7,108 shares of the company’s stock worth $209,000 after buying an additional 472 shares in the last quarter. Empirical Finance LLC boosted its position in APA by 1.6% during the 3rd quarter. Empirical Finance LLC now owns 31,272 shares of the company’s stock valued at $765,000 after acquiring an additional 497 shares in the last quarter. UMB Bank n.a. raised its position in shares of APA by 16.9% in the 3rd quarter. UMB Bank n.a. now owns 3,556 shares of the company’s stock worth $87,000 after acquiring an additional 513 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of APA by 1.1% in the 2nd quarter. NewEdge Advisors LLC now owns 46,603 shares of the company’s stock valued at $1,372,000 after purchasing an additional 521 shares during the period. 83.01% of the stock is currently owned by institutional investors.

APA Stock Up 1.1 %

APA opened at $22.09 on Monday. The firm has a 50-day simple moving average of $22.60 and a two-hundred day simple moving average of $26.02. 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 company has a market capitalization of $8.17 billion, a PE ratio of 3.12 and a beta of 3.18. APA Co. has a 52 week low of $20.32 and a 52 week high of $37.09.

APA Dividend Announcement

The firm also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Wednesday, January 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

Insider Activity

In related news, Director Juliet S. Ellis purchased 4,391 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

APA has been the subject of several research reports. Evercore ISI decreased their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Barclays dropped their price target on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada reduced their price objective on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Truist Financial dropped their target price on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Wells Fargo & Company downgraded APA from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $42.00 to $25.00 in a report on Tuesday, December 17th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.14.

APA 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.