Harris Associates L P Buys 4,293,932 Shares of APA Co. (NASDAQ:APA)

Harris Associates L P increased its stake in APA Co. (NASDAQ:APA) by 20.8% during the third quarter, Holdings Channel.com reports. The fund owned 24,914,700 shares of the company’s stock after buying an additional 4,293,932 shares during the period. Harris Associates L P owned approximately 0.07% of APA worth $609,414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. grew its position 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 valued at $40,000 after acquiring an additional 1,079 shares during the last quarter. Rothschild Investment LLC purchased a new position in APA during the second quarter worth $42,000. GPS Wealth Strategies Group LLC increased its stake in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after buying an additional 1,590 shares during the period. Huntington National Bank raised its stake in APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after buying an additional 561 shares during the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of APA in the second quarter worth about $57,000. Institutional investors own 83.01% of the company’s stock.

APA Price Performance

APA stock opened at $22.34 on Tuesday. The stock has a market capitalization of $8.26 billion, a PE ratio of 3.16 and a beta of 3.19. APA Co. has a 1 year low of $21.15 and a 1 year high of $37.82. The company’s 50-day moving average is $24.10 and its 200-day moving average is $27.11. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.48%. APA’s dividend payout ratio is presently 14.12%.

Wall Street Analyst Weigh In

APA has been the subject of several research reports. The Goldman Sachs Group dropped their price target on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. UBS Group cut their target price on shares of APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Mizuho cut their price target on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, Piper Sandler dropped their target price on shares of APA from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, APA currently has an average rating of “Hold” and an average price target of $32.57.

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.