New York State Common Retirement Fund acquired a new stake in shares of APA Corporation (NASDAQ:APA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 173,000 shares of the company's stock, valued at approximately $3,636,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. raised its stake in APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock worth $27,000 after buying an additional 1,077 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after purchasing an additional 1,382 shares during the period. Rakuten Securities Inc. grew its holdings in APA by 499.2% in the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after purchasing an additional 1,288 shares during the period. Siemens Fonds Invest GmbH purchased a new stake in APA in the fourth quarter worth about $42,000. Finally, LRI Investments LLC purchased a new stake in APA in the fourth quarter worth about $44,000. 83.01% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. UBS Group reiterated a "neutral" rating and set a $19.00 price target (up previously from $18.00) on shares of APA in a report on Monday, July 14th. Barclays increased their price target on shares of APA from $19.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Scotiabank reiterated a "sector perform" rating and set a $22.00 price target (up previously from $14.00) on shares of APA in a report on Friday, July 11th. Finally, Susquehanna cut their price target on shares of APA from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $23.50.
Check Out Our Latest Analysis on APA
APA Price Performance
APA stock opened at $18.74 on Wednesday. APA Corporation has a 12 month low of $13.58 and a 12 month high of $33.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $18.65 and a 200 day moving average price of $19.57. The stock has a market cap of $6.78 billion, a PE ratio of 6.74, a P/E/G ratio of 6.05 and a beta of 1.25.
APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The company's quarterly revenue was up 35.1% compared to the same quarter last year. Equities research analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.
APA Announces Dividend
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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 5.34%. APA's dividend payout ratio (DPR) is presently 35.97%.
APA Company Profile
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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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