Ameriprise Financial Inc. Cuts Stake in APA Co. (NASDAQ:APA)

Ameriprise Financial Inc. lowered its holdings in shares of APA Co. (NASDAQ:APA) by 44.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 196,026 shares of the company’s stock after selling 157,642 shares during the period. Ameriprise Financial Inc. owned about 0.05% of APA worth $4,526,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in APA. Brown Brothers Harriman & Co. lifted its position in APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after purchasing an additional 1,077 shares during the last quarter. Riverview Trust Co raised its holdings in APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after buying an additional 1,258 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after buying an additional 586 shares during the period. Runnymede Capital Advisors Inc. purchased a new stake in APA during the 4th quarter valued at $35,000. Finally, Rothschild Investment LLC grew its holdings in APA by 86.8% in the 4th quarter. Rothschild Investment LLC now owns 2,087 shares of the company’s stock worth $48,000 after acquiring an additional 970 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Up 0.7%

NASDAQ:APA opened at $16.85 on Monday. The firm has a market capitalization of $6.09 billion, a P/E ratio of 2.38 and a beta of 1.18. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA Co. has a one year low of $13.58 and a one year high of $33.41. The company’s 50-day simple moving average is $17.24 and its 200 day simple moving average is $20.47.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.23. APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, analysts forecast that APA Co. will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.93%. APA’s dividend payout ratio is currently 35.97%.

Analysts Set New Price Targets

APA has been the subject of a number of analyst reports. Argus upgraded shares of APA to a “hold” rating in a report on Friday, May 16th. Royal Bank of Canada dropped their price objective on APA from $27.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Citigroup lifted their price objective on APA from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Susquehanna decreased their target price on APA from $31.00 to $30.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price target on APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.58.

APA Company 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.