Sumitomo Mitsui Trust Group Inc. Buys 38,651 Shares of APA Co. (NASDAQ:APA)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of APA Co. (NASDAQ:APA) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,026,239 shares of the company’s stock after purchasing an additional 38,651 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of APA worth $25,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Covestor Ltd lifted its stake in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of APA during the 2nd quarter worth approximately $42,000. GPS Wealth Strategies Group LLC increased its holdings in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares during the last quarter. Finally, Carolina Wealth Advisors LLC bought a new stake in APA in the 2nd quarter valued at $57,000. Institutional investors own 83.01% of the company’s stock.

APA Price Performance

Shares of NASDAQ:APA opened at $22.38 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a 52 week low of $21.15 and a 52 week high of $37.82. The firm has a market cap of $8.28 billion, a PE ratio of 3.16 and a beta of 3.24. The firm’s fifty day moving average is $24.51 and its 200-day moving average is $27.67.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.47%. APA’s payout ratio is 14.12%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler decreased their price objective on shares of APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Truist Financial cut their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group decreased their target price on APA from $26.00 to $25.00 in a research report on Friday, October 18th. Royal Bank of Canada dropped their price target on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price objective on APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.95.

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.