Aigen Investment Management LP acquired a new position in APA Corporation (NASDAQ:APA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 89,604 shares of the company's stock, valued at approximately $1,883,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cerity Partners LLC grew its stake in shares of APA by 1,079.7% in the 4th quarter. Cerity Partners LLC now owns 338,704 shares of the company's stock valued at $7,845,000 after buying an additional 309,994 shares in the last quarter. Bank of Montreal Can raised its stake in APA by 7.0% during the fourth quarter. Bank of Montreal Can now owns 384,493 shares of the company's stock worth $8,878,000 after acquiring an additional 25,084 shares in the last quarter. Bank of Nova Scotia raised its stake in APA by 38.4% during the fourth quarter. Bank of Nova Scotia now owns 65,577 shares of the company's stock worth $1,514,000 after acquiring an additional 18,182 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of APA in the fourth quarter valued at $4,043,000. Finally, Raymond James Financial Inc. acquired a new stake in APA in the fourth quarter worth about $14,524,000. Institutional investors and hedge funds own 83.01% of the company's stock.
APA Price Performance
APA traded up $0.52 during trading on Tuesday, reaching $20.44. The company's stock had a trading volume of 5,920,573 shares, compared to its average volume of 7,489,516. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $19.25 and a two-hundred day simple moving average of $19.03. APA Corporation has a 1 year low of $13.58 and a 1 year high of $29.88. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 6.38 and a beta of 1.23.
APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company's quarterly revenue was down 14.4% compared to the same quarter last year. As a group, analysts anticipate that APA Corporation will post 4.03 EPS for the current year.
APA Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.9%. APA's dividend payout ratio (DPR) is presently 33.44%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on APA shares. Barclays boosted their target price on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday. Raymond James Financial restated an "outperform" rating and issued a $26.00 target price (up previously from $25.00) on shares of APA in a research note on Tuesday, July 22nd. Mizuho dropped their price objective on APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. Argus raised APA to a "hold" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company dropped their price objective on APA from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, APA has an average rating of "Hold" and a consensus target price of $23.59.
Get Our Latest Stock Report on APA
APA Company Profile
(
Free Report)
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.
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