Truist Financial Corp increased its holdings in APA Co. (NASDAQ:APA – Free Report) by 44.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,710 shares of the company’s stock after buying an additional 11,827 shares during the quarter. Truist Financial Corp’s holdings in APA were worth $1,140,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares during the period. Dimensional Fund Advisors LP increased its holdings in APA by 131.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after buying an additional 2,736,041 shares during the period. Bank of New York Mellon Corp increased its holdings in APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after buying an additional 455,312 shares during the period. LSV Asset Management boosted its position in APA by 4.9% in the 2nd quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock worth $81,193,000 after purchasing an additional 129,841 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in APA by 1.1% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,451,439 shares of the company’s stock worth $42,730,000 after purchasing an additional 16,287 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Susquehanna lowered their price objective on APA from $57.00 to $52.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Citigroup lowered their price objective on APA from $33.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Barclays lowered their price objective on APA from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Scotiabank lowered their price objective on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, Sanford C. Bernstein decreased their target price on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.90.
APA Stock Up 0.8 %
Shares of APA opened at $27.07 on Monday. The stock has a fifty day simple moving average of $26.67 and a two-hundred day simple moving average of $29.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $10.05 billion, a PE ratio of 3.03 and a beta of 3.23. APA Co. has a 52-week low of $22.72 and a 52-week high of $43.58.
APA (NASDAQ:APA – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s quarterly revenue was up 41.6% on a year-over-year basis. During the same period last year, the company earned $0.85 EPS. As a group, equities analysts forecast that APA Co. will post 3.97 EPS for the current year.
APA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is 11.19%.
APA Profile
APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.
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