Connor Clark & Lunn Investment Management Ltd. Has $3.25 Million Holdings in APA Corporation (NASDAQ:APA)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 258.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 154,522 shares of the company's stock after acquiring an additional 111,386 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in APA were worth $3,248,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Townsquare Capital LLC lifted its holdings in APA by 58.5% during the 1st quarter. Townsquare Capital LLC now owns 14,037 shares of the company's stock valued at $295,000 after purchasing an additional 5,183 shares during the last quarter. National Bank of Canada FI raised its stake in shares of APA by 76.4% in the first quarter. National Bank of Canada FI now owns 154,753 shares of the company's stock worth $3,253,000 after acquiring an additional 67,032 shares during the last quarter. 1834 Investment Advisors Co. raised its stake in shares of APA by 33.8% in the first quarter. 1834 Investment Advisors Co. now owns 280,285 shares of the company's stock worth $5,892,000 after acquiring an additional 70,732 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock worth $292,871,000 after acquiring an additional 1,046,893 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its stake in shares of APA by 28.7% in the first quarter. iA Global Asset Management Inc. now owns 39,820 shares of the company's stock worth $837,000 after acquiring an additional 8,871 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Scotiabank reaffirmed a "sector perform" rating and issued a $22.00 target price (up from $14.00) on shares of APA in a research note on Friday, July 11th. Susquehanna dropped their target price on shares of APA from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Barclays boosted their target price on shares of APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Finally, Cowen reissued a "hold" rating on shares of APA in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.61.

APA Trading Down 0.0%

NASDAQ APA traded down $0.01 during trading on Friday, reaching $20.48. 7,108,495 shares of the stock traded hands, compared to its average volume of 7,485,359. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 6.23 and a beta of 1.23. The stock's 50-day moving average price is $19.40 and its 200 day moving average price is $19.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $29.88.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business's revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 earnings per share. Analysts predict that APA Corporation will post 4.03 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, July 22nd. APA's dividend payout ratio is 33.44%.

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.