Victory Capital Management Inc. Raises Stock Holdings in APA Co. (NASDAQ:APA)

Victory Capital Management Inc. lifted its holdings in shares of APA Co. (NASDAQ:APA) by 13.5% during the third quarter, HoldingsChannel.com reports. The fund owned 1,261,324 shares of the company’s stock after purchasing an additional 149,762 shares during the quarter. Victory Capital Management Inc.’s holdings in APA were worth $30,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its position in APA by 3.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,026,239 shares of the company’s stock valued at $25,102,000 after acquiring an additional 38,651 shares during the period. GSA Capital Partners LLP purchased a new position in shares of APA in the 3rd quarter valued at approximately $281,000. Versor Investments LP purchased a new position in shares of APA in the 3rd quarter valued at approximately $443,000. Jaffetilchin Investment Partners LLC acquired a new position in shares of APA in the third quarter valued at approximately $574,000. Finally, Covestor Ltd raised its stake in shares of APA by 40.8% during the third quarter. Covestor Ltd now owns 3,093 shares of the company’s stock worth $76,000 after purchasing an additional 896 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Price Performance

Shares of NASDAQ APA opened at $22.38 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 3.16 and a beta of 3.24. The company’s 50-day moving average price is $24.51 and its 200 day moving average price is $27.67. APA Co. has a 52 week low of $21.15 and a 52 week high of $37.82.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.47%. APA’s dividend payout ratio (DPR) is 14.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APA shares. Royal Bank of Canada lowered their price objective on shares of APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Evercore ISI dropped their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Bernstein Bank cut their price target on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. Mizuho lowered their price objective on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Finally, Susquehanna cut their target price on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, APA presently has an average rating of “Hold” and an average target price of $32.95.

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.