APA Corporation (NASDAQ:APA) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of APA Corporation (NASDAQ:APA) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,353 shares of the company’s stock after acquiring an additional 1,175 shares during the period. State of Alaska Department of Revenue’s holdings in APA were worth $911,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. raised its holdings in shares of APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after buying an additional 1,077 shares during the period. Riverview Trust Co raised its stake in shares of APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after buying an additional 1,258 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of APA during the fourth quarter worth $35,000. Rakuten Securities Inc. raised its position in shares of APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock worth $32,000 after purchasing an additional 1,288 shares during the period. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of APA during the fourth quarter valued at $42,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APA has been the subject of several recent analyst reports. Barclays decreased their price target on APA from $25.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley increased their price target on APA from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Friday, May 23rd. Mizuho decreased their price objective on APA from $20.00 to $19.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 13th. Citigroup raised their price objective on APA from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, May 19th. Finally, Scotiabank decreased their price objective on APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $24.72.

APA Stock Up 3.7%

NASDAQ APA opened at $18.45 on Friday. APA Corporation has a 1-year low of $13.58 and a 1-year high of $33.41. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 5.63 and a beta of 1.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $17.60 and a 200-day moving average of $19.90.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.23. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.17 billion. APA had a return on equity of 23.22% and a net margin of 9.75%. APA’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. On average, equities research analysts expect that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.42%. APA’s dividend payout ratio (DPR) is presently 35.97%.

APA Company 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.