MetLife Investment Management LLC Boosts Holdings in APA Co. (NASDAQ:APA)

MetLife Investment Management LLC boosted its position in APA Co. (NASDAQ:APA) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,771 shares of the company’s stock after purchasing an additional 1,732 shares during the quarter. MetLife Investment Management LLC’s holdings in APA were worth $2,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of APA. Brown Brothers Harriman & Co. raised its position in shares of APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after buying an additional 1,077 shares in the last quarter. Riverview Trust Co raised its position in shares of APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after buying an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after purchasing an additional 586 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new position in shares of APA during the 4th quarter valued at $35,000. Finally, MassMutual Private Wealth & Trust FSB grew 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 valued at $37,000 after purchasing an additional 780 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Performance

APA stock opened at $16.55 on Tuesday. 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 company has a market capitalization of $5.99 billion, a P/E ratio of 2.34 and a beta of 2.74. The stock’s 50 day moving average is $18.57 and its 200 day moving average is $21.47. APA Co. has a twelve month low of $13.58 and a twelve month high of $33.41.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. On average, equities research analysts predict that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 6.04%. APA’s payout ratio is currently 44.25%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on APA shares. Raymond James lowered shares of APA from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $45.00 to $32.00 in a report on Monday, March 10th. Scotiabank reduced their target price on shares of APA from $26.00 to $14.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Citigroup cut their price target on shares of APA from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company cut their price target on shares of APA from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.79.

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.