Murphy Pohlad Asset Management LLC Sells 3,194 Shares of APA Co. (NASDAQ:APA)

Murphy Pohlad Asset Management LLC lessened its holdings in APA Co. (NASDAQ:APA) by 3.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 98,448 shares of the company’s stock after selling 3,194 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in APA were worth $2,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APA. TD Private Client Wealth LLC increased its holdings in shares of 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 acquiring an additional 540 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of APA by 93.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after purchasing an additional 780 shares in the last quarter. Huntington National Bank lifted its holdings 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 purchasing an additional 561 shares during the last quarter. Eastern Bank boosted its position in shares of APA by 355.0% in the 4th quarter. Eastern Bank now owns 2,275 shares of the company’s stock worth $53,000 after purchasing an additional 1,775 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after buying an additional 1,604 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APA has been the subject of several recent analyst reports. Bernstein Bank dropped their price target on APA from $30.00 to $28.00 in a research note on Friday, October 18th. UBS Group lowered their price target on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Citigroup dropped their price objective on shares of APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. The Goldman Sachs Group decreased their target price on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, January 3rd. Finally, Mizuho reduced their price objective on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research note on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, APA presently has a consensus rating of “Hold” and an average target price of $30.65.

Insider Transactions at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased 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 of the company’s stock, valued at $283,292.08. This trade represents a 54.58 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

APA Price Performance

APA stock opened at $23.18 on Thursday. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 3.27 and a beta of 3.16. APA Co. has a 52-week low of $20.32 and a 52-week high of $36.04. The company has a fifty day simple moving average of $22.84 and a 200-day simple moving average of $25.20. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Wednesday, January 22nd. APA’s dividend payout ratio is currently 14.12%.

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.