Penserra Capital Management LLC Purchases 24,699 Shares of APA Corporation (NASDAQ:APA)

Penserra Capital Management LLC boosted its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 2,638.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,635 shares of the company's stock after purchasing an additional 24,699 shares during the quarter. Penserra Capital Management LLC's holdings in APA were worth $538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APA. Brown Brothers Harriman & Co. raised its stake in APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock valued at $27,000 after acquiring an additional 1,077 shares in the last quarter. Golden State Wealth Management LLC raised its stake in APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after acquiring an additional 1,382 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new stake in APA during the 4th quarter valued at $35,000. Rakuten Securities Inc. raised its stake in APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Siemens Fonds Invest GmbH bought a new stake in APA during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 83.01% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on APA. Scotiabank reissued a "sector perform" rating and issued a $22.00 price objective (up previously from $14.00) on shares of APA in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday. Royal Bank Of Canada set a $22.00 price objective on APA and gave the stock a "sector perform" rating in a research note on Monday. Citigroup boosted their price objective on APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $23.00 price objective on shares of APA in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, APA has a consensus rating of "Hold" and a consensus target price of $24.72.

APA Stock Down 3.2%

APA stock traded down $0.64 during mid-day trading on Monday, hitting $19.47. The stock had a trading volume of 5,420,813 shares, compared to its average volume of 7,250,210. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. APA Corporation has a 1-year low of $13.58 and a 1-year high of $33.41. The company has a fifty day moving average of $18.36 and a 200 day moving average of $19.71. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 6.49 and a beta of 1.25.

APA (NASDAQ:APA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.23. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. APA had a return on equity of 23.22% and a net margin of 9.75%. The business's revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities analysts expect that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently disclosed 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 5.14%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's dividend payout ratio is 35.97%.

APA 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.