APA Co. (NASDAQ:APA – Get Rating) declared a quarterly dividend on Friday, February 4th, RTT News reports. Investors of record on Friday, April 22nd will be paid a dividend of 0.125 per share on Monday, May 23rd. This represents a $0.50 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, April 21st.
APA has a dividend payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect APA to earn $7.96 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 6.3%.
Shares of APA opened at $43.98 on Tuesday. The firm has a 50-day moving average price of $38.23 and a 200 day moving average price of $31.76. The firm has a market capitalization of $15.26 billion, a PE ratio of 16.98, a P/E/G ratio of 0.11 and a beta of 4.43. APA has a 52-week low of $15.55 and a 52-week high of $44.99.
In related news, CFO Stephen J. Riney bought 6,300 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The shares were acquired at an average price of $31.47 per share, with a total value of $198,261.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider P Anthony Lannie sold 40,800 shares of the business’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $39.90, for a total transaction of $1,627,920.00. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its stake in shares of APA by 116.8% in the 2nd quarter. Morgan Stanley now owns 3,741,019 shares of the company’s stock valued at $80,919,000 after purchasing an additional 2,015,378 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of APA by 119.5% in the 4th quarter. Deutsche Bank AG now owns 1,345,510 shares of the company’s stock valued at $36,180,000 after purchasing an additional 732,392 shares in the last quarter. Marshall Wace LLP acquired a new position in APA during the 4th quarter worth about $4,588,000. Thrivent Financial for Lutherans lifted its position in APA by 10.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,170,907 shares of the company’s stock worth $31,485,000 after buying an additional 106,872 shares in the last quarter. Finally, River & Mercantile Asset Management LLP acquired a new position in APA during the 4th quarter worth about $1,264,000. 86.58% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on APA shares. Piper Sandler raised their target price on shares of APA from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, April 7th. Mizuho upgraded shares of APA from a “neutral” rating to a “buy” rating and raised their price target for the stock from $38.00 to $56.00 in a report on Thursday, March 31st. Stifel Europe raised their price target on shares of APA from $33.00 to $37.00 in a report on Tuesday, January 4th. Morgan Stanley lifted their target price on shares of APA from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, January 25th. Finally, Susquehanna Bancshares reduced their target price on shares of APA from $43.00 to $42.00 and set a “positive” rating for the company in a research note on Thursday, February 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $41.66.
About APA (Get Rating)
APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.
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