APA Corporation (NASDAQ:APA) Stock Holdings Lessened by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in APA Corporation by 0.5%, selling 66,251 shares and now owning a total of 13,164,500 shares valued at approximately $276.7 million.
• APA recently announced a quarterly dividend of $0.25 per share, which translates to a 4.9% dividend yield, with a payout ratio of 33.44%.
• The stock has a current consensus rating of "Hold" from analysts, with a price target average of $23.59 and a recent trading price of $20.44.

Invesco Ltd. reduced its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,164,500 shares of the company's stock after selling 66,251 shares during the period. Invesco Ltd. owned approximately 3.64% of APA worth $276,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in APA by 33.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company's stock worth $142,823,000 after acquiring an additional 1,540,055 shares during the period. Freestone Grove Partners LP acquired a new stake in APA during the fourth quarter worth about $30,767,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in APA by 29.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company's stock worth $122,328,000 after acquiring an additional 1,195,212 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in APA by 8.1% during 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 period. Finally, Worldquant Millennium Advisors LLC acquired a new stake in APA during the fourth quarter worth about $19,796,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APA has been the topic of a number of recent analyst reports. Citigroup increased their price target on APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Stephens initiated coverage on APA in a research note on Tuesday, August 5th. They issued an "equal weight" rating and a $24.00 target price for the company. Argus raised APA to a "hold" rating in a research note on Friday, May 16th. Barclays boosted their target price on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Finally, Susquehanna lowered their target price on APA from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, APA currently has an average rating of "Hold" and a consensus target price of $23.56.

APA Stock Down 0.3%

Shares of APA stock traded down $0.07 during trading hours on Thursday, hitting $20.49. 6,147,391 shares of the company's stock traded hands, compared to its average volume of 7,470,860. The stock has a 50 day simple moving average of $19.36 and a 200-day simple moving average of $19.02. 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 company has a market cap of $7.33 billion, a PE ratio of 6.85, a PEG ratio of 6.24 and a beta of 1.23. APA Corporation has a twelve month low of $13.58 and a twelve month high of $29.88.

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 analysts' consensus estimates of $0.45 by $0.42. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%. The company's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. Equities research analysts anticipate that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The firm 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's 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.