US Bancorp DE Increases Stock Position in APA Co. (NASDAQ:APA)

US Bancorp DE grew its holdings in APA Co. (NASDAQ:APAGet Rating) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,777 shares of the company’s stock after purchasing an additional 1,766 shares during the quarter. US Bancorp DE’s holdings in APA were worth $1,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clear Street Markets LLC boosted its stake in shares of APA by 375.2% in the second quarter. Clear Street Markets LLC now owns 708 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the period. James Investment Research Inc. raised its holdings in APA by 205.7% in the second quarter. James Investment Research Inc. now owns 755 shares of the company’s stock valued at $26,000 after acquiring an additional 508 shares in the last quarter. Larson Financial Group LLC acquired a new stake in APA in the second quarter valued at approximately $26,000. Core Alternative Capital raised its holdings in APA by 657.1% in the third quarter. Core Alternative Capital now owns 795 shares of the company’s stock valued at $27,000 after acquiring an additional 690 shares in the last quarter. Finally, Clearstead Advisors LLC acquired a new stake in APA in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on APA. Jefferies Financial Group began coverage on shares of APA in a report on Wednesday, October 19th. They issued a “hold” rating and a $45.00 target price on the stock. Morgan Stanley cut their price objective on shares of APA from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, December 14th. StockNews.com cut shares of APA from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 5th. Royal Bank of Canada raised their price objective on shares of APA from $52.00 to $54.00 and gave the stock a “sector perform” rating in a report on Monday, November 14th. Finally, Truist Financial raised their price objective on shares of APA from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.56.

APA Stock Performance

NASDAQ:APA opened at $45.34 on Tuesday. The firm’s fifty day moving average price is $45.54 and its 200 day moving average price is $42.05. APA Co. has a 1-year low of $27.98 and a 1-year high of $51.95. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 4.33, a price-to-earnings-growth ratio of 0.16 and a beta of 3.58.

APA (NASDAQ:APAGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.05. APA had a net margin of 33.83% and a return on equity of 325.67%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $0.98 EPS. APA’s quarterly revenue was up 40.2% on a year-over-year basis. On average, sell-side analysts expect that APA Co. will post 8.19 EPS for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 22nd. Shareholders of record on Monday, January 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, January 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. APA’s payout ratio is currently 9.55%.

About APA

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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.

Further Reading

Institutional Ownership by Quarter for APA (NASDAQ:APA)

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