Allspring Global Investments Holdings LLC lifted its position in APA Co. (NASDAQ:APA – Free Report) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,652 shares of the company’s stock after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC’s holdings in APA were worth $1,116,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Money Concepts Capital Corp grew its position in APA by 228.6% during the 4th quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock worth $34,000 after purchasing an additional 503 shares during the last quarter. Covestor Ltd grew its position in APA by 117.8% during the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after purchasing an additional 437 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in APA during the 1st quarter worth approximately $35,000. Scissortail Wealth Management LLC purchased a new stake in APA during the 1st quarter worth approximately $2,761,649,000. Finally, Quarry LP grew its position in APA by 2,535.1% during the 1st quarter. Quarry LP now owns 975 shares of the company’s stock worth $35,000 after purchasing an additional 938 shares during the last quarter. Hedge funds and other institutional investors own 80.48% of the company’s stock.
Analyst Upgrades and Downgrades
APA has been the topic of several research analyst reports. Roth Mkm reissued a “buy” rating and set a $47.00 target price on shares of APA in a research report on Friday, October 6th. Susquehanna decreased their price objective on shares of APA from $54.00 to $53.00 and set a “positive” rating for the company in a research note on Wednesday, October 18th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of APA in a research note on Friday, October 6th. Wells Fargo & Company lifted their price objective on shares of APA from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, September 1st. Finally, Jefferies Financial Group lifted their price objective on shares of APA from $39.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.00.
APA Stock Performance
APA opened at $36.71 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.65. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 6.93 and a beta of 3.50. APA Co. has a 52-week low of $30.67 and a 52-week high of $49.30. The firm’s fifty day simple moving average is $41.22 and its two-hundred day simple moving average is $38.18.
APA (NASDAQ:APA – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.25. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.02 billion. APA had a net margin of 17.62% and a return on equity of 92.51%. The company’s revenue was down 20.1% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. Equities analysts anticipate that APA Co. will post 4.76 earnings per share for the current fiscal year.
APA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, October 23rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, October 20th. APA’s dividend payout ratio (DPR) is 20.49%.
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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