Smead Capital Management Inc. Acquires 326,042 Shares of APA Co. (NASDAQ:APA)

Smead Capital Management Inc. raised its position in APA Co. (NASDAQ:APA) by 3.5% in the third quarter, HoldingsChannel.com reports. The fund owned 9,667,452 shares of the company’s stock after purchasing an additional 326,042 shares during the quarter. APA accounts for approximately 3.4% of Smead Capital Management Inc.’s portfolio, making the stock its 15th biggest holding. Smead Capital Management Inc.’s holdings in APA were worth $236,466,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in APA. Covestor Ltd increased its holdings in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after buying an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the period. Rothschild Investment LLC acquired a new position in shares of APA during the 2nd quarter valued at $42,000. Huntington National Bank lifted its position in shares of APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after acquiring an additional 561 shares during the period. Finally, GPS Wealth Strategies Group LLC lifted its position in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Price Performance

Shares of APA stock opened at $22.46 on Tuesday. APA Co. has a twelve month low of $21.15 and a twelve month high of $37.82. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 3.17 and a beta of 3.24. The stock has a fifty day simple moving average of $24.46 and a two-hundred day simple moving average of $27.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is currently 14.12%.

Analyst Ratings Changes

APA has been the subject of a number of recent research reports. Mizuho decreased their price target on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company cut their price target on shares of APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Scotiabank dropped their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Barclays lowered their price target on shares of APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, November 8th. Finally, Susquehanna lowered their price target on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.81.

About APA

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.