APA Corporation $APA Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in APA Corporation by 59.4% in Q4, buying 42,068 shares to hold 112,895 shares worth about $2.76 million, while institutional investors collectively own roughly 83.01% of the stock.
• Director Matthew Regis Bob sold 23,000 shares on March 18 at an average price of $36.23 (≈$833,290), reducing his holding by 77.61% to 6,634 shares; corporate insiders now own 0.73% of APA.
• Analysts currently give APA a consensus rating of "Hold" with a consensus target price of $39.50, although individual price targets recently ranged from the high $20s up to $50 after several revisions.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of APA Corporation (NASDAQ:APA - Free Report) by 59.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 112,895 shares of the company's stock after purchasing an additional 42,068 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in APA were worth $2,761,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Deseret Mutual Benefit Administrators grew its holdings in shares of APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company's stock worth $29,000 after acquiring an additional 891 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of APA in the 3rd quarter worth $34,000. Spire Wealth Management grew its holdings in shares of APA by 179.6% in the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company's stock worth $37,000 after acquiring an additional 977 shares during the last quarter. Community Bank N.A. acquired a new position in shares of APA in the 3rd quarter worth $43,000. Finally, LRI Investments LLC grew its holdings in shares of APA by 4,697.7% in the 3rd quarter. LRI Investments LLC now owns 2,063 shares of the company's stock worth $50,000 after acquiring an additional 2,020 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at APA

In other APA news, Director Matthew Regis Bob sold 23,000 shares of the business's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director owned 6,634 shares of the company's stock, valued at $240,349.82. The trade was a 77.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on APA shares. JPMorgan Chase & Co. lifted their target price on APA from $29.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, March 20th. Truist Financial lifted their price target on APA from $38.00 to $39.00 and gave the company a "hold" rating in a report on Monday, April 20th. The Goldman Sachs Group lifted their price target on APA from $30.00 to $31.00 and gave the company a "sell" rating in a report on Tuesday, April 21st. Bank of America lifted their price target on APA from $23.00 to $27.00 and gave the company an "underperform" rating in a report on Monday, March 16th. Finally, Capital One Financial lowered their price target on APA from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, April 17th. Seven equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.50.

APA Price Performance

APA opened at $37.73 on Monday. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 9.46 and a beta of 0.49. APA Corporation has a 1 year low of $15.20 and a 1 year high of $45.66. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $35.86 and a 200 day moving average price of $28.69.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.29. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.The business's revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. Analysts forecast that APA Corporation will post 4.28 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. APA's payout ratio is currently 25.06%.

APA Profile

APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

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