Kentucky Retirement Systems Raises Stake in APA Co. (NASDAQ:APA)

Kentucky Retirement Systems grew its holdings in shares of APA Co. (NASDAQ:APA) by 17.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,133 shares of the company’s stock after purchasing an additional 4,118 shares during the period. Kentucky Retirement Systems’ holdings in APA were worth $799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in APA. American National Bank increased its stake in APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares in the last quarter. Covestor Ltd grew its holdings in shares of APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after buying an additional 470 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of APA during the fourth quarter valued at approximately $39,000. Whittier Trust Co. of Nevada Inc. raised its holdings in APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in APA in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of NASDAQ APA opened at $25.07 on Friday. The stock has a market cap of $9.31 billion, a PE ratio of 2.80 and a beta of 3.24. APA Co. has a 1 year low of $22.72 and a 1 year high of $43.58. The firm has a fifty day moving average price of $28.29 and a 200-day moving average price of $30.09. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01.

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

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is currently 11.19%.

Wall Street Analysts Forecast Growth

APA has been the subject of several recent analyst reports. Barclays restated an “equal weight” rating and issued a $35.00 price target on shares of APA in a research note on Wednesday, September 11th. Susquehanna lowered their target price on shares of APA from $57.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Bank of America reaffirmed an “underperform” rating and set a $31.00 price target on shares of APA in a report on Friday, June 14th. Wolfe Research started coverage on shares of APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, UBS Group dropped 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. Four equities research 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.