Riverview Trust Co Grows Holdings in APA Co. (NASDAQ:APA)

Riverview Trust Co lifted its position in shares of APA Co. (NASDAQ:APA) by 5,718.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,280 shares of the company’s stock after buying an additional 1,258 shares during the quarter. Riverview Trust Co’s holdings in APA were worth $30,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. TD Private Client Wealth LLC increased its stake in shares of APA by 84.1% during 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 last quarter. Wilmington Savings Fund Society FSB increased its position in APA by 77.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after purchasing an additional 586 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of APA by 93.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after buying an additional 780 shares during the last quarter. Huntington National Bank increased 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 worth $42,000 after buying an additional 561 shares during the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of APA by 86.8% during the 4th quarter. Rothschild Investment LLC now owns 2,087 shares of the company’s stock worth $48,000 after buying an additional 970 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on APA. Barclays dropped their target price on shares of APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of APA in a research note on Thursday, January 23rd. Wells Fargo & Company downgraded shares of APA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $42.00 to $25.00 in a research report on Tuesday, December 17th. The Goldman Sachs Group lowered their price objective 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, Citigroup lowered their price target on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued 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 a consensus rating of “Hold” and an average target price of $30.65.

APA Stock Performance

APA stock opened at $20.70 on Friday. APA Co. has a 12 month low of $19.84 and a 12 month high of $36.04. The company has a fifty day moving average price of $22.98 and a two-hundred day moving average price of $24.01. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $7.66 billion, a PE ratio of 2.92 and a beta of 3.15.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. Research analysts expect that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm 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 dividend of $0.25 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.83%. APA’s dividend payout ratio (DPR) is presently 44.25%.

Insider Activity

In related news, Director Juliet S. Ellis acquired 4,391 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the purchase, the director now directly owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.