APA Corporation (NASDAQ:APA) Shares Purchased by Vestcor Inc

Key Points

• Vestcor Inc significantly increased its stake in APA Corporation by 377.3%, purchasing an additional 20,410 shares, bringing its total holdings to 25,819 shares valued at approximately $543,000.
• APA Corporation's stock is currently rated as "Hold" by analysts, with a consensus price target of $23.50 following multiple adjustments, including a decrease from $24.00 by Royal Bank of Canada.
• The company recently announced a quarterly dividend of $0.25 per share, providing an annual yield of 5.4%, with a payout ratio of 35.97%.

Vestcor Inc grew its stake in APA Corporation (NASDAQ:APA - Free Report) by 377.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,819 shares of the company's stock after purchasing an additional 20,410 shares during the period. Vestcor Inc's holdings in APA were worth $543,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in APA by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 9,507,956 shares of the company's stock worth $219,016,000 after purchasing an additional 200,770 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of APA by 3,303.0% during the 1st quarter. GAMMA Investing LLC now owns 268,194 shares of the company's stock worth $5,637,000 after acquiring an additional 260,313 shares during the period. Fifth Third Bancorp grew its stake in shares of APA by 14.5% in the 1st quarter. Fifth Third Bancorp now owns 26,137 shares of the company's stock valued at $549,000 after buying an additional 3,306 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of APA by 11.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 207,210 shares of the company's stock valued at $4,378,000 after buying an additional 21,630 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in APA by 34.2% in the first quarter. Envestnet Asset Management Inc. now owns 269,512 shares of the company's stock worth $5,665,000 after acquiring an additional 68,725 shares during the period. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Price Performance

APA stock traded up $1.40 during trading hours on Thursday, hitting $19.46. The stock had a trading volume of 22,954,467 shares, compared to its average volume of 8,117,165. APA Corporation has a 1-year low of $13.58 and a 1-year high of $29.88. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 6.07 and a beta of 1.23. The stock's fifty day moving average is $19.06 and its two-hundred day moving average is $19.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.89.

APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.42. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.03 billion. APA had a net margin of 9.75% and a return on equity of 23.22%. The firm's quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, analysts predict that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

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 of this dividend is Tuesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 5.1%. APA's payout ratio is presently 35.97%.

Analyst Ratings Changes

Several equities analysts have recently commented on APA shares. Raymond James Financial restated an "outperform" rating and issued a $26.00 price objective (up from $25.00) on shares of APA in a report on Tuesday, July 22nd. Stephens began coverage on APA in a report on Tuesday. They set an "equal weight" rating and a $24.00 price target on the stock. Cowen reissued a "hold" rating on shares of APA in a research report on Thursday. Citigroup raised their target price on shares of APA from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Finally, Barclays boosted their price target on shares of APA from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, APA currently has an average rating of "Hold" and an average price target of $23.53.

APA Company 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.