Teacher Retirement System of Texas Makes New $1.14 Million Investment in APA Corporation (NASDAQ:APA)

Teacher Retirement System of Texas purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 54,085 shares of the company's stock, valued at approximately $1,137,000.

Other large investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. raised its position in shares of APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock worth $27,000 after buying an additional 1,077 shares during the period. Golden State Wealth Management LLC increased its holdings in APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after purchasing an additional 1,382 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in APA in the 4th quarter valued at $35,000. Rakuten Securities Inc. increased its holdings in APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Siemens Fonds Invest GmbH acquired a new stake in APA in the 4th 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 traded down $0.37 during mid-day trading on Tuesday, reaching $19.11. 527,157 shares of the company's stock traded hands, compared to its average volume of 7,225,635. The business's 50-day moving average price is $18.36 and its 200-day moving average price is $19.71. The stock has a market capitalization of $6.91 billion, a P/E ratio of 6.87, a price-to-earnings-growth ratio of 6.49 and a beta of 1.25. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.89 and a current ratio of 0.89. APA Corporation has a 12 month low of $13.58 and a 12 month high of $33.41.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating 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 analyst estimates of $2.17 billion. During the same quarter last year, the business earned $0.78 earnings per share. The business's revenue for the quarter was up 35.1% on a year-over-year basis. Equities analysts predict that APA Corporation will post 4.03 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 22nd. Investors of record on Tuesday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.23%. APA's dividend payout ratio is presently 35.97%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley increased their price target on APA from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Friday, May 23rd. Piper Sandler lowered their target price on APA from $22.00 to $19.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Citigroup raised 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. Argus upgraded APA to a "hold" rating in a research note on Friday, May 16th. Finally, UBS Group restated a "neutral" rating and set a $19.00 target price (up from $18.00) on shares of APA in a research note on Monday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, APA currently has a consensus 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.