XTX Topco Ltd Purchases New Stake in APA Corporation (NASDAQ:APA)

Key Points

• XTX Topco Ltd has acquired a new stake in APA Corporation, purchasing 32,443 shares valued at approximately $682,000 during the first quarter.
• Analysts have set new price targets for APA, with JPMorgan Chase raising its target from $19 to $20 and Raymond James setting it at $26, while maintaining a "neutral" rating.
• APA recently declared a quarterly dividend of $0.25, representing an annualized dividend yield of 5.5%.

XTX Topco Ltd purchased a new stake in APA Corporation (NASDAQ:APA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 32,443 shares of the company's stock, valued at approximately $682,000.

Several other hedge funds have also added to or reduced their stakes in APA. Golden State Wealth Management LLC boosted its holdings in APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after buying an additional 1,382 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after buying an additional 1,288 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in APA during the fourth quarter worth about $42,000. LRI Investments LLC bought a new position in APA during the fourth quarter worth about $44,000. Finally, Allworth Financial LP lifted its holdings 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 in the last quarter. Institutional investors own 83.01% of the company's stock.

Analysts Set New Price Targets

APA has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on APA from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Raymond James Financial reiterated an "outperform" rating and set a $26.00 price objective (up previously from $25.00) on shares of APA in a report on Tuesday, July 22nd. Piper Sandler lifted their price objective on APA from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Mizuho cut their price objective on APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a report on Tuesday, May 13th. Finally, Citigroup lifted their price objective on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $23.50.

APA Trading Down 1.0%

NASDAQ APA opened at $18.27 on Tuesday. The business has a 50 day simple moving average of $19.01 and a 200 day simple moving average of $19.17. APA Corporation has a one year low of $13.58 and a one year high of $29.88. The stock has a market capitalization of $6.61 billion, a P/E ratio of 6.57, a P/E/G ratio of 6.03 and a beta of 1.23. 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 quarterly earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.23. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. APA had a return on equity of 23.22% and a net margin of 9.75%. The company's quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. Research analysts expect 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. Shareholders 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 annualized dividend and a yield of 5.5%. APA's dividend payout ratio is presently 35.97%.

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.

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