VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.75 Million Position in APA Corporation $APA

Key Points

• The Virginia Retirement Systems acquired a new stake in APA Corporation valued at approximately $1.75 million, purchasing 95,900 shares during the 2nd quarter.
• APA recently reported earnings of $0.87 per share, surpassing estimates, while also announcing a $0.25 quarterly dividend with a yield of 4.4%.
• Institutional ownership of APA stock stands at 83.01%, with various firms adjusting their positions and analysts giving a consensus "Hold" rating.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of APA Corporation (NASDAQ:APA - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 95,900 shares of the company's stock, valued at approximately $1,754,000.

Several other institutional investors have also recently modified their holdings of APA. Golden State Wealth Management LLC increased its position in shares of APA by 2,709.8% during 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 during the last quarter. TD Private Client Wealth LLC increased its position in shares of APA by 144.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock valued at $34,000 after purchasing an additional 1,104 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of APA during the 2nd quarter valued at about $49,000. SVB Wealth LLC bought a new position in shares of APA during the 1st quarter valued at about $55,000. Finally, Allworth Financial LP increased its position in shares of APA by 122.5% during the 1st quarter. Allworth Financial LP now owns 3,084 shares of the company's stock valued at $65,000 after purchasing an additional 1,698 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Trading Up 1.4%

NASDAQ APA opened at $22.89 on Thursday. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $25.83. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day simple moving average of $23.03 and a two-hundred day simple moving average of $19.69. The stock has a market cap of $8.19 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 6.40 and a beta of 1.16.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the business posted $1.17 EPS. The business's revenue was down 14.4% on a year-over-year basis. On average, analysts forecast that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders 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 annualized dividend and a yield of 4.4%. APA's dividend payout ratio (DPR) is 33.44%.

Analyst Ratings Changes

APA has been the topic of several recent research reports. The Goldman Sachs Group upgraded APA from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. BMO Capital Markets raised their price target on APA from $28.00 to $30.00 and gave the stock a "market perform" rating in a research report on Monday, October 13th. Morgan Stanley reduced their price target on APA from $23.00 to $22.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 14th. Roth Capital raised their price target on APA from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 15th. Finally, Scotiabank raised their price target on APA from $22.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 9th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $24.74.

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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