Axa S.A. Has $22.87 Million Position in APA Co. (NASDAQ:APA)

Axa S.A. grew its position in APA Co. (NASDAQ:APA) by 73.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 776,916 shares of the company’s stock after buying an additional 328,676 shares during the quarter. Axa S.A.’s holdings in APA were worth $22,872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank increased its position in APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares in the last quarter. Covestor Ltd increased its position in APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC acquired a new position in APA during the 2nd quarter worth approximately $42,000. Finally, GPS Wealth Strategies Group LLC increased its position in APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Down 5.8 %

Shares of NASDAQ APA opened at $23.15 on Friday. The firm has a market cap of $8.59 billion, a PE ratio of 2.59 and a beta of 3.24. APA Co. has a 12-month low of $22.72 and a 12-month high of $43.58. The company’s fifty day simple moving average is $27.71 and its 200 day simple moving average is $29.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The business’s revenue was up 41.6% on a year-over-year basis. As a group, sell-side analysts forecast that APA Co. will post 4.04 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.32%. APA’s payout ratio is 11.19%.

Wall Street Analyst Weigh In

APA has been the subject of a number of research analyst reports. Citigroup lowered their price objective on shares of APA from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. UBS Group reduced their target price on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Susquehanna reduced their target price on shares of APA from $57.00 to $52.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on shares of APA from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 target price on shares of APA in a report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, APA has an average rating of “Hold” and a consensus price target of $36.38.

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.