Quantinno Capital Management LP Acquires 39,375 Shares of APA Corporation $APA

Key Points

• Quantinno Capital Management increased its APA holdings by 5.1%, acquiring 39,375 additional shares to own 809,126 shares valued at approximately $34.3 million. Institutional investors collectively own 83.01% of APA.
• APA reported quarterly earnings of $1.38 per share, beating estimates of $1.11, while revenue of $2.33 billion exceeded expectations but declined 11.7% year over year.
• APA declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annual payout and a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $40.35.

Quantinno Capital Management LP raised its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 809,126 shares of the company's stock after acquiring an additional 39,375 shares during the quarter. Quantinno Capital Management LP owned approximately 0.23% of APA worth $34,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of APA by 57.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 306,195 shares of the company's stock worth $7,765,000 after acquiring an additional 111,777 shares during the last quarter. Friedenthal Financial acquired a new position in shares of APA during the 4th quarter valued at about $938,000. Thrivent Financial for Lutherans grew its holdings in shares of APA by 85.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company's stock valued at $1,976,000 after purchasing an additional 37,180 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in APA by 59.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,895 shares of the company's stock worth $2,761,000 after purchasing an additional 42,068 shares during the last quarter. Finally, Prudential PLC increased its position in APA by 753.2% during the fourth quarter. Prudential PLC now owns 136,744 shares of the company's stock worth $3,345,000 after purchasing an additional 120,717 shares during the last quarter. Institutional investors own 83.01% of the company's stock.

APA Trading Down 1.0%

NASDAQ APA opened at $36.33 on Friday. The firm's 50-day moving average is $35.24 and its two-hundred day moving average is $34.30. APA Corporation has a 12 month low of $17.86 and a 12 month high of $45.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $12.84 billion, a P/E ratio of 8.47 and a beta of 0.35.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period last year, the business earned $1.06 earnings per share. The business's revenue for the quarter was down 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that APA Corporation will post 4.92 earnings per share for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. APA's dividend payout ratio (DPR) is presently 23.31%.

Insider Buying and Selling at APA

In related news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the sale, the vice president owned 66,810 shares in the company, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company's stock.

Wall Street Analyst Weigh In

APA has been the topic of several recent analyst reports. Capital One Financial boosted their target price on shares of APA from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Weiss Ratings downgraded shares of APA from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 23rd. Roth Capital raised shares of APA from a "neutral" rating to a "buy" rating and lifted their price target for the company from $37.00 to $38.00 in a research report on Monday, June 22nd. Scotiabank lifted their price target on shares of APA from $26.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen cut APA from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Eight analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, APA currently has a consensus rating of "Hold" and a consensus price target of $40.35.

APA Company Profile

APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.