Intech Investment Management LLC Has $3.57 Million Stake in APA Co. (NASDAQ:APA)

Intech Investment Management LLC raised its holdings in APA Co. (NASDAQ:APA) by 1,021.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,097 shares of the company’s stock after purchasing an additional 110,297 shares during the quarter. Intech Investment Management LLC’s holdings in APA were worth $3,565,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Sunpointe LLC raised its position in APA by 2.8% in the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after purchasing an additional 362 shares during the last quarter. GAMMA Investing LLC raised its position in shares of APA by 12.0% during the second quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after acquiring an additional 380 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in shares of APA by 6.7% during the second quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after acquiring an additional 429 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of APA by 0.9% during the fourth quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock valued at $1,775,000 after acquiring an additional 436 shares during the period. Finally, UMB Bank n.a. boosted its holdings in APA by 18.1% in the first quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock valued at $98,000 after acquiring an additional 439 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Down 1.1 %

Shares of APA stock opened at $25.07 on Monday. The firm has a market cap of $9.31 billion, a PE ratio of 2.80 and a beta of 3.24. The business’s 50 day simple moving average is $28.29 and its 200 day simple moving average is $30.09. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. APA Co. has a 52-week low of $22.72 and a 52-week high of $43.58.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm’s revenue was up 41.6% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. On average, analysts predict that APA Co. will post 4.34 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 3.99%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Analyst Upgrades and Downgrades

APA has been the topic of a number of research reports. Piper Sandler cut their target price on shares of APA from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price objective on shares of APA in a research note on Tuesday, September 17th. Bank of America reaffirmed an “underperform” rating and set a $31.00 target price on shares of APA in a report on Friday, June 14th. Mizuho cut their price target on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a research note on Monday, September 16th. Finally, Barclays reiterated an “equal weight” rating and issued a $35.00 price objective on shares of APA in a report on Wednesday, September 11th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.38.

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.