Franklin Resources Inc. Cuts Stock Holdings in APA Co. (NASDAQ:APA)

Franklin Resources Inc. lessened its position in APA Co. (NASDAQ:APA) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 324,887 shares of the company’s stock after selling 17,745 shares during the quarter. Franklin Resources Inc. owned about 0.09% of APA worth $8,674,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its holdings in APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after purchasing an additional 429 shares in the last quarter. Signaturefd LLC boosted its position in APA by 7.1% during the second quarter. Signaturefd LLC now owns 7,108 shares of the company’s stock worth $209,000 after acquiring an additional 472 shares during the last quarter. Washington Trust Bank grew its stake in APA by 5.9% during the 2nd quarter. Washington Trust Bank now owns 8,794 shares of the company’s stock valued at $259,000 after acquiring an additional 492 shares in the last quarter. Empirical Finance LLC raised its holdings in APA by 1.6% in the 3rd quarter. Empirical Finance LLC now owns 31,272 shares of the company’s stock valued at $765,000 after acquiring an additional 497 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in APA by 16.9% in the 3rd quarter. UMB Bank n.a. now owns 3,556 shares of the company’s stock worth $87,000 after purchasing an additional 513 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Juliet S. Ellis bought 4,391 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $22.78 per share, with a total value of $100,026.98. Following the purchase, the director now directly 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 document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price target on APA from $26.00 to $25.00 in a research report on Friday, October 18th. Royal Bank of Canada cut their target price on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Truist Financial lowered their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $42.00 to $25.00 in a research report on Tuesday, December 17th. Finally, Scotiabank decreased their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.14.

APA Stock Performance

NASDAQ APA opened at $21.04 on Friday. The company has a market cap of $7.78 billion, a P/E ratio of 2.97 and a beta of 3.18. APA Co. has a 1-year low of $20.32 and a 1-year high of $37.82. 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 stock has a 50-day moving average of $22.95 and a two-hundred day moving average of $26.30.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Wednesday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.75%. The ex-dividend date is Wednesday, January 22nd. APA’s payout ratio is currently 14.12%.

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.