Teachers Retirement System of The State of Kentucky Has $6.77 Million Stake in APA Co. (NASDAQ:APA)

Teachers Retirement System of The State of Kentucky lifted its position in shares of APA Co. (NASDAQ:APAGet Rating) by 488.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,893 shares of the company’s stock after purchasing an additional 136,059 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in APA were worth $6,773,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of APA. JPMorgan Chase & Co. raised its position in shares of APA by 37.8% during the fourth quarter. JPMorgan Chase & Co. now owns 743,157 shares of the company’s stock worth $19,984,000 after purchasing an additional 204,051 shares during the period. Rhumbline Advisers raised its position in APA by 0.6% in the 4th quarter. Rhumbline Advisers now owns 604,189 shares of the company’s stock valued at $16,247,000 after buying an additional 3,787 shares during the last quarter. Prudential PLC purchased a new stake in APA in the 4th quarter valued at $598,000. MAI Capital Management purchased a new stake in APA in the 4th quarter valued at $336,000. Finally, Ensign Peak Advisors Inc raised its position in APA by 631.0% in the 4th quarter. Ensign Peak Advisors Inc now owns 394,085 shares of the company’s stock valued at $10,597,000 after buying an additional 340,177 shares during the last quarter. 83.36% of the stock is owned by institutional investors and hedge funds.

APA Trading Down 2.5 %

NASDAQ APA opened at $40.46 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 3.43. APA Co. has a twelve month low of $18.52 and a twelve month high of $51.95. The firm has a market capitalization of $13.21 billion, a PE ratio of 4.55, a P/E/G ratio of 0.16 and a beta of 3.81. The stock’s 50 day moving average is $36.22 and its 200 day moving average is $38.50.

APA (NASDAQ:APAGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $2.37 earnings per share for the quarter, meeting the consensus estimate of $2.37. APA had a return on equity of 622.55% and a net margin of 32.57%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.77 billion. Research analysts forecast that APA Co. will post 9.93 earnings per share for the current fiscal year.

APA announced that its board has approved a stock buyback program on Wednesday, September 14th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

APA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.47%. This is an increase from APA’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, October 20th. APA’s payout ratio is 5.62%.

Wall Street Analyst Weigh In

APA has been the subject of several research analyst reports. Citigroup raised APA from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $58.00 in a research report on Monday, September 12th. Susquehanna Bancshares lowered their price target on APA from $52.00 to $49.00 and set a “positive” rating on the stock in a report on Friday, August 5th. StockNews.com cut APA from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 13th. Mizuho decreased their price objective on APA from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 18th. Finally, Susquehanna decreased their price objective on APA from $52.00 to $49.00 and set a “positive” rating on the stock in a report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, APA has an average rating of “Moderate Buy” and a consensus price target of $52.31.

APA Profile

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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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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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