Johnson Financial Group Inc. increased its stake in shares of APA Corporation (NASDAQ:APA – Free Report) by 9,592.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 20,064 shares of the company’s stock after acquiring an additional 19,857 shares during the period. Johnson Financial Group Inc.’s holdings in APA were worth $852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in APA. Hollencrest Capital Management lifted its stake in APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of APA during the first quarter worth about $28,000. Summit Securities Group LLC grew its position in shares of APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after acquiring an additional 710 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in shares of APA in the 4th quarter worth about $37,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of APA in the 1st quarter worth about $44,000. 83.01% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
APA has been the subject of a number of analyst reports. Zacks Research lowered shares of APA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group cut their price target on APA from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Tuesday, June 30th. Evercore boosted their price objective on APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 24th. Wells Fargo & Company boosted their price objective on APA from $21.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada increased their price objective on APA from $29.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.35.
APA Stock Performance
APA stock opened at $35.77 on Wednesday. The company has a market capitalization of $12.64 billion, a P/E ratio of 8.34 and a beta of 0.35. The company has a 50-day simple moving average of $35.65 and a 200 day simple moving average of $33.74. APA Corporation has a fifty-two week low of $17.86 and a fifty-two week high of $45.66. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.
APA (NASDAQ:APA – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. APA’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS. Sell-side analysts predict that APA Corporation will post 5 earnings per share for the current fiscal year.
APA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio is currently 23.31%.
Insider Activity
In other news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares in the company, valued at $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.73% of the stock is owned by company insiders.
APA Profile
APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.
In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.
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