Rhumbline Advisers Has $14.59 Million Stake in APA Co. (NASDAQ:APA)

Rhumbline Advisers grew its holdings in shares of APA Co. (NASDAQ:APA - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 694,238 shares of the company's stock after acquiring an additional 69,519 shares during the period. Rhumbline Advisers owned about 0.19% of APA worth $14,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brown Brothers Harriman & Co. grew its holdings in shares of APA by 1,087.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock valued at $27,000 after purchasing an additional 1,077 shares during the last quarter. Riverview Trust Co increased its stake in shares of APA by 5,718.2% during the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company's stock valued at $30,000 after acquiring an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in APA by 77.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company's stock valued at $31,000 after buying an additional 586 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of APA in the 4th quarter worth approximately $35,000. Finally, Siemens Fonds Invest GmbH bought a new position in shares of APA in the fourth quarter valued at $42,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Performance

Shares of APA stock traded up $0.34 during trading on Thursday, reaching $19.95. The company had a trading volume of 8,316,754 shares, compared to its average volume of 7,047,910. The firm's 50 day simple moving average is $16.64 and its two-hundred day simple moving average is $20.11. APA Co. has a one year low of $13.58 and a one year high of $33.41. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $7.22 billion, a PE ratio of 2.82 and a beta of 1.25.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.17 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. APA's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. Sell-side analysts forecast that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be paid 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 5.01%. APA's payout ratio is 35.97%.

Analyst Ratings Changes

APA has been the subject of several recent analyst reports. Barclays decreased their target price on APA from $25.00 to $19.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Susquehanna decreased their price objective on APA from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Scotiabank cut their target price on shares of APA from $26.00 to $14.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Argus upgraded shares of APA to a "hold" rating in a report on Friday, May 16th. Finally, Morgan Stanley upped their price target on shares of APA from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, APA presently has a consensus rating of "Hold" and a consensus price target of $25.21.

About APA

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.