Alberta Investment Management Corp Makes New $6.26 Million Investment in APA Co. (NASDAQ:APA)

Alberta Investment Management Corp bought a new position in APA Co. (NASDAQ:APA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 270,880 shares of the company’s stock, valued at approximately $6,255,000. Alberta Investment Management Corp owned 0.07% of APA at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of APA by 0.6% in the 4th quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock worth $1,780,000 after buying an additional 469 shares during the period. Empirical Finance LLC raised its position in shares of APA by 1.6% in the 3rd quarter. Empirical Finance LLC now owns 31,272 shares of the company’s stock worth $765,000 after buying an additional 497 shares during the period. Segment Wealth Management LLC increased its holdings in APA by 1.0% in the 3rd quarter. Segment Wealth Management LLC now owns 54,367 shares of the company’s stock valued at $1,330,000 after purchasing an additional 535 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in APA by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock valued at $3,070,000 after purchasing an additional 544 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

APA Stock Performance

Shares of NASDAQ APA opened at $23.60 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 firm’s 50-day moving average price is $22.91 and its two-hundred day moving average price is $24.30. APA Co. has a 52-week low of $20.32 and a 52-week high of $36.04. The stock has a market capitalization of $8.73 billion, a P/E ratio of 3.33 and a beta of 3.15.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. 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 4.24%. APA’s dividend payout ratio (DPR) is presently 14.12%.

Wall Street Analyst Weigh In

APA has been the subject of several recent research reports. Wells Fargo & Company downgraded APA from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $42.00 to $25.00 in a report on Tuesday, December 17th. Mizuho lowered their target price on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research note on Monday, December 16th. UBS Group lowered their target price on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Citigroup lowered their target price on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Finally, Piper Sandler lowered their target price on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.65.

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.