Sumitomo Mitsui Trust Group Inc. Has $25.85 Million Holdings in APA Co. (NASDAQ:APA)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of APA Co. (NASDAQ:APA) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,119,648 shares of the company’s stock after acquiring an additional 93,409 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in APA were worth $25,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC lifted its stake in APA by 84.1% in the third 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 last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in APA by 93.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after acquiring an additional 780 shares during the period. Huntington National Bank lifted its position in APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares during the last quarter. Eastern Bank boosted its holdings in APA by 355.0% during the fourth quarter. Eastern Bank now owns 2,275 shares of the company’s stock valued at $53,000 after acquiring an additional 1,775 shares during the period. Finally, Blue Trust Inc. grew its position in shares of APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after purchasing an additional 1,604 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Trading Up 1.4 %

Shares of NASDAQ:APA opened at $23.31 on Wednesday. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 3.29 and a beta of 3.15. APA Co. has a 12 month low of $20.32 and a 12 month high of $36.04. The company’s fifty day simple moving average is $22.79 and its 200 day simple moving average is $24.57. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.29%. APA’s dividend payout ratio (DPR) is 14.12%.

Insider Transactions at APA

In other APA news, Director Juliet S. Ellis bought 4,391 shares of APA stock in a transaction that occurred on 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 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APA has been the subject of several research reports. Piper Sandler reduced their price objective on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Bernstein Bank reduced their price target on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. Susquehanna dropped their price objective 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. Truist Financial reduced their target price 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. Finally, Wells Fargo & Company lowered APA from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $42.00 to $25.00 in a research note on Tuesday, December 17th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $30.65.

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.