Investment Management Corp of Ontario Has $301,000 Stock Holdings in APA Co. (NASDAQ:APA)

Investment Management Corp of Ontario lowered its holdings in shares of APA Co. (NASDAQ:APA) by 79.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,298 shares of the company’s stock after selling 48,211 shares during the period. Investment Management Corp of Ontario’s holdings in APA were worth $301,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Harris Associates L P grew its stake in shares of APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after buying an additional 4,293,932 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of APA during the 3rd quarter valued at $7,238,000. Hotchkis & Wiley Capital Management LLC increased its holdings in APA by 12.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after purchasing an additional 3,411,270 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its position in APA by 0.9% in the third quarter. Chevy Chase Trust Holdings LLC now owns 198,327 shares of the company’s stock valued at $4,851,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Concentric Capital Strategies LP acquired a new stake in shares of APA during the third quarter valued at about $2,313,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA stock opened at $21.42 on Monday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 3.03 and a beta of 3.18. The business has a 50-day simple moving average of $23.84 and a 200 day simple moving average of $26.80. 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 Co. has a one year low of $20.95 and a one year high of $37.82.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd were given a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.67%. APA’s payout ratio is 14.12%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APA. UBS Group dropped their price objective on shares of APA from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, November 18th. Truist Financial dropped their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Bernstein Bank reduced their price objective on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. JPMorgan Chase & Co. decreased their price objective on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, Wells Fargo & Company cut their target price on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Four equities research 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.57.

APA 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.