Allstate Corp Acquires Shares of 10,156 APA Co. (NASDAQ:APA)

Allstate Corp bought a new position in APA Co. (NASDAQ:APA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,156 shares of the company’s stock, valued at approximately $235,000.

Several other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in APA by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock worth $297,540,000 after buying an additional 894,574 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of APA by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock worth $226,928,000 after purchasing an additional 224,547 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of APA by 29.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock worth $94,500,000 after purchasing an additional 929,770 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in shares of APA by 6.1% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 1,532,360 shares of the company’s stock worth $35,382,000 after purchasing an additional 88,656 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in APA by 12.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,415,364 shares of the company’s stock valued at $32,681,000 after purchasing an additional 154,040 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on APA shares. Citigroup lowered their target price on APA from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Barclays reduced their target price on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price target on shares of APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Mizuho reduced their price target on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. Finally, UBS Group dropped their price objective on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $27.68.

APA Trading Up 0.5 %

Shares of APA stock opened at $21.24 on Thursday. The business has a 50-day moving average price of $21.42 and a two-hundred day moving average price of $22.85. APA Co. has a 12-month low of $17.66 and a 12-month high of $36.05. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market cap of $7.73 billion, a P/E ratio of 3.00 and a beta of 2.73.

APA (NASDAQ:APA) last released its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.31 billion. Equities analysts anticipate that APA Co. will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s dividend payout ratio is presently 44.25%.

APA 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.