Rhumbline Advisers raised its stake in APA Co. (NASDAQ:APA - Free Report) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 694,238 shares of the company's stock after purchasing an additional 69,519 shares during the period. Rhumbline Advisers owned 0.19% of APA worth $14,593,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. grew its position in APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock valued at $27,000 after buying an additional 1,077 shares during the last quarter. Riverview Trust Co increased its position in APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company's stock worth $30,000 after purchasing an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company's stock worth $31,000 after purchasing an additional 586 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in APA in the 4th quarter valued at about $35,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in APA in the 4th quarter valued at about $42,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on APA shares. Susquehanna reduced their target price on shares of APA from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Scotiabank dropped their target price on shares of APA from $26.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Citigroup upped their price target on shares of APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Royal Bank of Canada cut their price target 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. Finally, Mizuho reduced their price objective on shares of APA from $20.00 to $19.00 and set an "underperform" rating for the company in a research note on Tuesday, May 13th. Four 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.21.
Read Our Latest Stock Analysis on APA
APA Stock Performance
NASDAQ:APA traded up $0.33 during mid-day trading on Wednesday, hitting $19.61. 8,841,167 shares of the company traded hands, compared to its average volume of 7,042,826. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 2.77 and a beta of 1.25. 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 stock's fifty day moving average price is $16.64 and its 200-day moving average price is $20.11. APA Co. has a one year low of $13.58 and a one year high of $33.41.
APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.23. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.17 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. The company's quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Research analysts anticipate that APA Co. will post 4.03 earnings per share for the current fiscal year.
APA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be given a $0.25 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.10%. APA's payout ratio is 35.97%.
APA 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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