APA Co. (NASDAQ:APA) Position Boosted by Swiss National Bank

Swiss National Bank raised its holdings in shares of APA Co. (NASDAQ:APA) by 13.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088,362 shares of the company’s stock after acquiring an additional 126,762 shares during the quarter. Swiss National Bank owned approximately 0.36% of APA worth $37,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of APA. DNB Asset Management AS lifted its holdings in APA by 0.6% in the 4th quarter. DNB Asset Management AS now owns 49,846 shares of the company’s stock worth $1,788,000 after purchasing an additional 308 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of APA by 5.0% during the fourth quarter. HB Wealth Management LLC now owns 6,528 shares of the company’s stock worth $234,000 after purchasing an additional 309 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of APA by 1.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company’s stock worth $898,000 after purchasing an additional 358 shares during the last quarter. Quent Capital LLC lifted its stake in shares of APA by 64.0% during the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after acquiring an additional 375 shares during the period. Finally, SVB Wealth LLC lifted its stake in shares of APA by 7.0% during the fourth quarter. SVB Wealth LLC now owns 5,868 shares of the company’s stock valued at $211,000 after acquiring an additional 386 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Up 1.6 %

Shares of APA traded up $0.49 during mid-day trading on Monday, reaching $30.46. The company’s stock had a trading volume of 765,157 shares, compared to its average volume of 6,387,746. The stock has a market cap of $11.31 billion, a PE ratio of 3.36, a P/E/G ratio of 0.35 and a beta of 3.27. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. APA Co. has a 52 week low of $27.17 and a 52 week high of $46.15. The company’s fifty day moving average price is $29.45 and its two-hundred day moving average price is $31.26.

APA (NASDAQ:APA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 earnings per share. On average, analysts predict that APA Co. will post 4.5 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, July 22nd. APA’s payout ratio is 11.19%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APA. Scotiabank lowered their price target on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday. Evercore ISI cut APA from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $52.00 to $39.00 in a report on Friday, June 14th. Truist Financial dropped their price objective on APA from $53.00 to $52.00 and set a “buy” rating for the company in a report on Friday. Citigroup decreased their price target on APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $28.00 price target on shares of APA in a research note on Monday, April 15th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.95.

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.