OLD National Bancorp IN Increases Stock Holdings in APA Co. (NASDAQ:APA)

OLD National Bancorp IN lifted its stake in APA Co. (NASDAQ:APA - Free Report) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 302,531 shares of the company's stock after purchasing an additional 48,277 shares during the period. OLD National Bancorp IN owned about 0.08% of APA worth $6,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC grew its stake in shares of APA by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 113,913 shares of the company's stock worth $2,630,000 after purchasing an additional 449 shares in the last quarter. Van ECK Associates Corp lifted its holdings in APA by 0.6% during the 4th quarter. Van ECK Associates Corp now owns 77,110 shares of the company's stock worth $1,780,000 after buying an additional 469 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of APA by 1.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company's stock worth $1,018,000 after acquiring an additional 517 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of APA by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company's stock valued at $3,070,000 after acquiring an additional 544 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company's stock valued at $31,000 after acquiring an additional 586 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

APA stock traded up $0.33 during trading on Wednesday, hitting $19.61. The company had a trading volume of 8,841,167 shares, compared to its average volume of 7,042,826. The firm has a 50-day moving average price of $16.64 and a 200-day moving average price of $20.11. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market cap of $7.09 billion, a PE ratio of 2.77 and a beta of 1.25. APA Co. has a 1-year low of $13.58 and a 1-year high of $33.41.

APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.23. APA had a return on equity of 27.86% and a net margin of 24.36%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the business posted $0.78 EPS. The company's revenue was up 35.1% on a year-over-year basis. On average, analysts expect that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors 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 yield of 5.10%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's dividend payout ratio is presently 35.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Mizuho decreased their target price on APA from $20.00 to $19.00 and set an "underperform" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of APA from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Royal Bank of Canada lowered their target price on shares of APA from $27.00 to $24.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Piper Sandler lowered their target price on shares of APA from $22.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of APA from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, APA has a consensus rating of "Hold" and a consensus price target of $25.21.

APA Company Profile

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.