TrueMark Investments LLC Invests $5.14 Million in APA Corporation (NASDAQ:APA)

TrueMark Investments LLC acquired a new stake in shares of APA Corporation (NASDAQ:APA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 244,456 shares of the company's stock, valued at approximately $5,138,000. APA makes up approximately 1.3% of TrueMark Investments LLC's portfolio, making the stock its 27th biggest holding. TrueMark Investments LLC owned about 0.07% of APA as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brown Brothers Harriman & Co. increased its stake in APA by 1,087.9% during the 4th 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 in the last quarter. Riverview Trust Co grew its holdings 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 buying an additional 1,258 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of APA in the 4th quarter valued at $35,000. Rakuten Securities Inc. increased its position in shares of 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 acquiring an additional 1,288 shares during the period. Finally, Siemens Fonds Invest GmbH purchased a new position in APA in the 4th quarter worth $42,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on APA shares. JPMorgan Chase & Co. cut their price objective on APA from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Raymond James Financial reiterated an "outperform" rating and issued a $25.00 price target (up previously from $23.00) on shares of APA in a report on Friday, May 30th. Scotiabank decreased their price objective on shares of APA from $26.00 to $14.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Susquehanna cut their price objective on shares of APA from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their target price 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 equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, APA presently has a consensus rating of "Hold" and a consensus price target of $24.72.

APA Price Performance

Shares of APA stock traded down $0.21 during trading hours on Tuesday, reaching $18.18. The company had a trading volume of 10,143,277 shares, compared to its average volume of 7,186,885. APA Corporation has a 12-month low of $13.58 and a 12-month high of $33.41. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 5.81 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. The stock has a fifty day moving average of $17.50 and a 200-day moving average of $19.94.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.83 by $0.23. APA had a return on equity of 23.22% and a net margin of 9.75%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The company's quarterly revenue was up 35.1% compared to the same quarter last year. On average, equities analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's payout ratio is presently 35.97%.

APA Profile

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.