Retirement Systems of Alabama Has $20.27 Million Stake in APA Co. (NASDAQ:APA)

Retirement Systems of Alabama trimmed its holdings in shares of APA Co. (NASDAQ:APA - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 564,898 shares of the company's stock after selling 86,779 shares during the period. Retirement Systems of Alabama owned about 0.18% of APA worth $20,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Czech National Bank lifted its position in shares of APA by 47.0% during the third quarter. Czech National Bank now owns 53,704 shares of the company's stock worth $2,207,000 after purchasing an additional 17,161 shares in the last quarter. Brookstone Capital Management lifted its position in shares of APA by 6.8% during the third quarter. Brookstone Capital Management now owns 66,203 shares of the company's stock worth $2,867,000 after purchasing an additional 4,226 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of APA by 16.2% during the third quarter. Commonwealth Equity Services LLC now owns 64,406 shares of the company's stock worth $2,647,000 after purchasing an additional 9,001 shares in the last quarter. Sebold Capital Management Inc. acquired a new position in shares of APA during the third quarter worth $211,000. Finally, SVB Wealth LLC acquired a new position in shares of APA during the third quarter worth $225,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Price Performance

APA traded down $1.28 on Tuesday, reaching $31.44. The company had a trading volume of 6,412,641 shares, compared to its average volume of 6,790,949. The company has a fifty day moving average of $32.57 and a 200-day moving average of $34.35. The company has a market capitalization of $9.47 billion, a P/E ratio of 3.39 and a beta of 3.27. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. APA Co. has a one year low of $29.47 and a one year high of $46.15.

APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.18). The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. APA had a net margin of 34.95% and a return on equity of 62.64%. The business's quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. As a group, equities research analysts anticipate that APA Co. will post 5.03 earnings per share for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Friday, April 19th. APA's payout ratio is 10.78%.

Analyst Ratings Changes

Several analysts recently issued reports on APA shares. The Goldman Sachs Group cut their price target on shares of APA from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Tuesday, March 26th. Barclays started coverage on shares of APA in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $40.00 price target on the stock. Truist Financial cut their price target on shares of APA from $59.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, April 5th. Piper Sandler boosted their target price on shares of APA from $33.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, April 19th. Finally, Raymond James lowered their target price on shares of APA from $44.00 to $43.00 and set a "strong-buy" rating for the company in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, APA presently has a consensus rating of "Hold" and a consensus price target of $42.25.

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.