Illinois Municipal Retirement Fund raised its stake in shares of APA Co. (NASDAQ:APA - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,896 shares of the company's stock after purchasing an additional 40,785 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of APA worth $6,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APA. Lido Advisors LLC boosted its position in APA by 1.2% during the 3rd quarter. Lido Advisors LLC now owns 21,901 shares of the company's stock valued at $900,000 after buying an additional 266 shares during the period. DNB Asset Management AS increased its holdings in APA by 0.6% during the 4th quarter. DNB Asset Management AS now owns 49,846 shares of the company's stock valued at $1,788,000 after purchasing an additional 308 shares during the period. HB Wealth Management LLC increased its holdings in APA by 5.0% during the 4th quarter. HB Wealth Management LLC now owns 6,528 shares of the company's stock valued at $234,000 after purchasing an additional 309 shares during the period. NovaPoint Capital LLC raised its position in APA by 5.8% during the 3rd quarter. NovaPoint Capital LLC now owns 6,231 shares of the company's stock valued at $256,000 after purchasing an additional 342 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in APA by 1.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company's stock worth $898,000 after buying an additional 358 shares during the period. 83.01% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on APA from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. Morgan Stanley reaffirmed an "underweight" rating and set a $28.00 target price on shares of APA in a research note on Monday, April 15th. Roth Mkm increased their price target on shares of APA from $37.00 to $39.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group cut their price objective on APA from $35.00 to $31.00 and set a "sell" rating on the stock in a research report on Tuesday, March 26th. Finally, StockNews.com raised APA from a "hold" rating to a "buy" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $42.25.
Get Our Latest Stock Analysis on APA
APA Stock Performance
APA stock traded down $0.01 during mid-day trading on Wednesday, reaching $32.05. 4,521,536 shares of the company traded hands, compared to its average volume of 6,836,163. The firm's fifty day moving average is $32.51 and its two-hundred day moving average is $34.52. APA Co. has a fifty-two week low of $29.47 and a fifty-two week high of $46.15. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 3.45 and a beta of 3.27.
APA (NASDAQ:APA - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The company's revenue was down 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.48 earnings per share. On average, equities research analysts expect that APA Co. will post 4.96 earnings per share for the current fiscal year.
APA Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a yield of 3.12%. APA's payout ratio is currently 10.78%.
APA Company Profile
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Free Report)
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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