The Manufacturers Life Insurance Company Has $7.20 Million Stake in APA Co. (NASDAQ:APA)

The Manufacturers Life Insurance Company grew its stake in APA Co. (NASDAQ:APA) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,740 shares of the company’s stock after buying an additional 9,439 shares during the period. The Manufacturers Life Insurance Company’s holdings in APA were worth $7,198,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in APA. Brown Brothers Harriman & Co. lifted its position in APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after acquiring an additional 1,077 shares during the last quarter. Riverview Trust Co increased its stake in shares of APA by 5,718.2% in the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB lifted its position 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 worth $31,000 after purchasing an additional 586 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in APA during the 4th quarter valued at approximately $35,000. Finally, MassMutual Private Wealth & Trust FSB grew 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 valued at $37,000 after buying an additional 780 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Up 1.5 %

APA opened at $15.73 on Wednesday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 2.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50-day simple moving average is $17.80 and its 200-day simple moving average is $21.11. APA Co. has a twelve month low of $13.58 and a twelve month high of $33.41.

APA (NASDAQ:APA) last issued its quarterly earnings data 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 firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. Equities research analysts anticipate that APA Co. will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors 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 yield of 6.36%. APA’s dividend payout ratio is 44.25%.

Wall Street Analyst Weigh In

APA has been the subject of a number of research analyst reports. Morgan Stanley set a $20.00 price target on APA and gave the stock an “underweight” rating in a report on Tuesday, April 15th. Citigroup cut their target price on shares of APA from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective 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. Piper Sandler cut their price objective on shares of APA from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Finally, Susquehanna lowered their price target on APA from $31.00 to $30.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Four 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 a consensus rating of “Hold” and an average price target of $25.79.

APA Company 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.