Mutual of America Capital Management LLC Decreases Stake in APA Corporation $APA

Mutual of America Capital Management LLC lowered its stake in APA Corporation (NASDAQ:APA) by 3.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 41,376 shares of the company’s stock after selling 1,639 shares during the quarter. Mutual of America Capital Management LLC’s holdings in APA were worth $757,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cullen Investment Group LTD. increased its stake in shares of APA by 5.9% during the second quarter. Cullen Investment Group LTD. now owns 11,497 shares of the company’s stock valued at $210,000 after buying an additional 637 shares during the period. Turtle Creek Wealth Advisors LLC increased its position in APA by 1.5% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 44,194 shares of the company’s stock valued at $808,000 after purchasing an additional 638 shares during the period. Comerica Bank raised its holdings in APA by 0.7% in the 1st quarter. Comerica Bank now owns 89,616 shares of the company’s stock worth $1,884,000 after purchasing an additional 644 shares in the last quarter. TD Asset Management Inc lifted its position in shares of APA by 1.1% in the 2nd quarter. TD Asset Management Inc now owns 65,835 shares of the company’s stock worth $1,204,000 after purchasing an additional 698 shares during the period. Finally, Lipe & Dalton lifted its position in shares of APA by 3.5% in the 1st quarter. Lipe & Dalton now owns 23,290 shares of the company’s stock worth $490,000 after purchasing an additional 780 shares during the period. Institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on APA from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Monday, October 13th. Piper Sandler lifted their price target on APA from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, August 14th. Evercore ISI upped their price target on APA from $16.00 to $21.00 in a research note on Monday. Wolfe Research raised their price objective on APA from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Roth Capital upped their target price on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.63.

APA Trading Down 2.1%

APA stock opened at $23.34 on Tuesday. APA Corporation has a twelve month low of $13.58 and a twelve month high of $25.83. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 6.64 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $23.24 and its two-hundred day simple moving average is $19.93.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, October 22nd. APA’s dividend payout ratio is currently 33.44%.

About APA

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.