abrdn plc grew its position in shares of APA Co. (NASDAQ:APA - Free Report) by 72.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 129,713 shares of the company's stock after acquiring an additional 54,456 shares during the period. abrdn plc's holdings in APA were worth $4,654,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in APA by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company's stock valued at $1,714,656,000 after buying an additional 2,003,862 shares in the last quarter. Ameriprise Financial Inc. increased its position in APA by 130.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company's stock valued at $63,037,000 after buying an additional 867,257 shares in the last quarter. Los Angeles Capital Management LLC increased its position in APA by 1,527.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 921,662 shares of the company's stock valued at $37,880,000 after buying an additional 865,026 shares in the last quarter. Smead Capital Management Inc. increased its position in APA by 13.6% during the 4th quarter. Smead Capital Management Inc. now owns 5,235,957 shares of the company's stock valued at $187,866,000 after buying an additional 626,460 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in APA by 8,888.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 549,552 shares of the company's stock valued at $22,587,000 after buying an additional 543,438 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.
APA Price Performance
Shares of APA stock traded up $0.13 during trading hours on Friday, hitting $32.49. The stock had a trading volume of 4,801,253 shares, compared to its average volume of 6,164,118. APA Co. has a one year low of $29.47 and a one year 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 stock's 50-day moving average price is $32.55 and its two-hundred day moving average price is $34.39. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 3.50 and a beta of 3.27.
APA (NASDAQ:APA - Get Free Report) last issued 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). APA had a return on equity of 62.64% and a net margin of 34.95%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the firm posted $1.48 earnings per share. The company's revenue for the quarter was down 12.3% compared to the same quarter last year. Equities analysts forecast that APA Co. will post 5.03 EPS for the current year.
APA Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 3.08%. APA's payout ratio is currently 10.78%.
Wall Street Analyst Weigh In
A number of research firms have commented on APA. Roth Mkm lifted their target price on APA from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd. Scotiabank reissued a "sector perform" rating and issued a $37.00 target price (down previously from $43.00) on shares of APA in a report on Tuesday, January 16th. Raymond James reduced their target price on APA from $44.00 to $43.00 and set a "strong-buy" rating for the company in a report on Wednesday, January 24th. Barclays initiated coverage on APA in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $40.00 target price for the company. Finally, Morgan Stanley restated an "underweight" rating and issued a $28.00 price target on shares of APA in a research note on Monday, April 15th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.25.
View Our Latest Analysis on APA
About APA
(
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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