APA Co. (NASDAQ:APA) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its position in shares of APA Co. (NASDAQ:APA) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 324,887 shares of the company’s stock after selling 17,745 shares during the period. Franklin Resources Inc.’s holdings in APA were worth $8,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of APA. Fifth Third Bancorp lifted its holdings in APA by 11.8% during the 2nd quarter. Fifth Third Bancorp now owns 16,072 shares of the company’s stock worth $473,000 after buying an additional 1,699 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of APA by 15.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock worth $601,000 after acquiring an additional 2,800 shares in the last quarter. New York State Teachers Retirement System lifted its stake in APA by 15.4% during the second quarter. New York State Teachers Retirement System now owns 399,802 shares of the company’s stock worth $11,770,000 after purchasing an additional 53,444 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in APA by 12.8% in the second quarter. Raymond James Trust N.A. now owns 16,448 shares of the company’s stock valued at $484,000 after purchasing an additional 1,862 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in APA by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after purchasing an additional 455,312 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

APA has been the subject of several research analyst reports. Evercore ISI lowered their target price on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Susquehanna dropped their price objective on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. UBS Group reduced their target price on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Barclays decreased their target price on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. Finally, Piper Sandler cut their price target on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.14.

Insider Activity at APA

In related news, Director Juliet S. Ellis purchased 4,391 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the acquisition, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

APA Trading Up 2.7 %

NASDAQ APA opened at $21.04 on Friday. 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 stock has a market capitalization of $7.78 billion, a P/E ratio of 2.97 and a beta of 3.18. APA Co. has a 52-week low of $20.32 and a 52-week high of $37.82. The firm has a 50-day moving average price of $22.95 and a 200 day moving average price of $26.30.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.75%. APA’s dividend payout ratio is currently 14.12%.

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.