Sumitomo Mitsui Trust Group Inc. Has $362,000 Stake in APA Corporation (NASDAQ:APA)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 98.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,244 shares of the company's stock after selling 1,102,404 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in APA were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in APA by 33.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company's stock worth $142,823,000 after acquiring an additional 1,540,055 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of APA during the fourth quarter worth $30,767,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of APA by 29.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company's stock worth $122,328,000 after purchasing an additional 1,195,212 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of APA in the 4th quarter valued at $19,796,000. Finally, Invesco Ltd. increased its position in shares of APA by 6.9% in the 4th quarter. Invesco Ltd. now owns 13,230,751 shares of the company's stock valued at $305,498,000 after buying an additional 850,052 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

APA Stock Down 0.0%

APA stock opened at $19.49 on Friday. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 7.01, a P/E/G ratio of 6.18 and a beta of 1.25. APA Corporation has a twelve month low of $13.58 and a twelve month high of $33.41. The business has a 50 day moving average price of $17.97 and a two-hundred day moving average price of $19.76. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.81.

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 analysts' consensus estimates of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The firm's revenue for the quarter was up 35.1% on a year-over-year basis. Analysts anticipate that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be issued 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 5.13%. APA's payout ratio is 35.97%.

Analysts Set New Price Targets

APA has been the subject of a number of research analyst reports. Citigroup boosted their target price on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada decreased their price objective on APA from $27.00 to $24.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Scotiabank lowered their target price on APA from $26.00 to $14.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $23.00 price target on shares of APA in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company reduced their price target on shares of APA from $23.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday, June 16th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, APA has an average rating of "Hold" and an average target price of $24.72.

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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