State of Alaska Department of Revenue Raises Holdings in APA Corporation $APA

State of Alaska Department of Revenue increased its position in shares of APA Corporation (NASDAQ:APA - Free Report) by 339.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,613 shares of the company's stock after purchasing an additional 147,260 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of APA worth $3,485,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in APA. Dimensional Fund Advisors LP increased its position in shares of APA by 46.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company's stock worth $190,876,000 after purchasing an additional 2,894,543 shares in the last quarter. Nuveen LLC purchased a new stake in APA in the 1st quarter valued at $22,533,000. Charles Schwab Investment Management Inc. grew its holdings in APA by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock valued at $292,871,000 after buying an additional 1,046,893 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in APA by 2.9% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company's stock valued at $765,964,000 after buying an additional 1,029,961 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in APA in the 1st quarter valued at $17,129,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APA has been the subject of several analyst reports. Royal Bank Of Canada dropped their target price on APA from $24.00 to $22.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. Barclays upped their target price on APA from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Cfra Research upgraded APA to a "hold" rating in a report on Friday, August 8th. UBS Group upped their price target on APA from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Finally, The Goldman Sachs Group upped their price target on APA from $17.00 to $19.00 and gave the company a "sell" rating in a research note on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $23.24.

APA Price Performance

Shares of NASDAQ APA opened at $24.28 on Wednesday. The stock's 50-day moving average is $21.69 and its two-hundred day moving average is $19.32. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. APA Corporation has a 1-year low of $13.58 and a 1-year high of $27.48. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 8.12, a price-to-earnings-growth ratio of 6.94 and a beta of 1.29.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business's revenue for the quarter was down 14.4% on a year-over-year basis. Analysts forecast that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. APA's dividend payout ratio is presently 33.44%.

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.

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