Harvest Portfolios Group Inc. boosted its holdings in APA Co. (NASDAQ:APA – Free Report) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,360 shares of the company’s stock after buying an additional 365 shares during the period. Harvest Portfolios Group Inc.’s holdings in APA were worth $1,419,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Cetera Advisor Networks LLC acquired a new stake in APA in the first quarter worth $295,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of APA by 3,173.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,088 shares of the company’s stock worth $706,000 after acquiring an additional 16,566 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of APA during the first quarter worth $145,000. Raymond James Trust N.A. acquired a new stake in shares of APA during the first quarter worth $328,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of APA by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,362,836 shares of the company’s stock worth $56,324,000 after acquiring an additional 29,907 shares during the period. 80.48% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on APA shares. Piper Sandler raised their price objective on shares of APA from $42.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, August 14th. The Goldman Sachs Group downgraded shares of APA from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a research report on Wednesday, July 12th. Royal Bank of Canada lifted their price objective on shares of APA from $47.00 to $50.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 8th. Truist Financial reissued a “buy” rating and issued a $59.00 price objective on shares of APA in a research report on Wednesday, August 16th. Finally, 58.com reissued a “maintains” rating on shares of APA in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.43.
APA Stock Down 4.8 %
APA stock opened at $42.10 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.29. APA Co. has a 12-month low of $30.67 and a 12-month high of $50.58. The firm’s fifty day moving average is $41.39 and its 200 day moving average is $36.98. The company has a market capitalization of $12.94 billion, a PE ratio of 9.01, a PEG ratio of 8.68 and a beta of 3.53.
APA (NASDAQ:APA – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.19. APA had a net margin of 16.14% and a return on equity of 117.05%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company earned $2.37 EPS. APA’s quarterly revenue was down 41.2% compared to the same quarter last year. As a group, sell-side analysts predict that APA Co. will post 4.29 EPS for the current fiscal year.
APA Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. APA’s dividend payout ratio is currently 21.41%.
APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. 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, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.
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