KLCM Advisors Inc. Buys 115,249 Shares of APA Co. (NASDAQ:APA)

KLCM Advisors Inc. grew its stake in shares of APA Co. (NASDAQ:APA) by 19.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 696,024 shares of the company’s stock after buying an additional 115,249 shares during the quarter. APA accounts for 1.9% of KLCM Advisors Inc.’s investment portfolio, making the stock its 15th biggest position. KLCM Advisors Inc.’s holdings in APA were worth $16,071,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in APA. TD Private Client Wealth LLC lifted its position in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of APA by 77.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after acquiring an additional 586 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of APA by 93.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after acquiring an additional 780 shares during the last quarter. Huntington National Bank boosted its stake in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after purchasing an additional 561 shares in the last quarter. Finally, Eastern Bank grew its holdings in shares of APA by 355.0% during the 4th quarter. Eastern Bank now owns 2,275 shares of the company’s stock valued at $53,000 after purchasing an additional 1,775 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho cut their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. dropped 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. Wells Fargo & Company cut APA from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Piper Sandler lowered their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group cut their price target on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, APA has an average rating of “Hold” and an average price target of $30.65.

Insider Activity at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the business’s stock in a transaction that occurred 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 $283,292.08. This trade represents a 54.58 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

APA Trading Up 2.9 %

Shares of NASDAQ APA opened at $23.14 on Monday. APA Co. has a 1 year low of $20.32 and a 1 year high of $36.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $22.84 and a 200 day moving average of $24.40. The stock has a market cap of $8.56 billion, a P/E ratio of 3.27 and a beta of 3.15.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.32%. APA’s dividend payout ratio is currently 14.12%.

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.