Amalgamated Bank Grows Stock Holdings in APA Co. (NASDAQ:APA)

Amalgamated Bank grew its holdings in APA Co. (NASDAQ:APA) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,691 shares of the company’s stock after acquiring an additional 6,303 shares during the period. Amalgamated Bank’s holdings in APA were worth $3,377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in APA. Meiji Yasuda Asset Management Co Ltd. purchased a new position in APA in the 2nd quarter worth approximately $340,000. Moors & Cabot Inc. increased its position in shares of APA by 26.8% during the second quarter. Moors & Cabot Inc. now owns 24,241 shares of the company’s stock worth $714,000 after acquiring an additional 5,120 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of APA by 6.7% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in APA in the second quarter valued at about $809,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA opened at $25.44 on Tuesday. The firm has a market capitalization of $9.44 billion, a PE ratio of 2.85 and a beta of 3.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $28.17 and a 200 day moving average price of $30.05. APA Co. has a 52-week low of $22.72 and a 52-week high of $43.58.

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

APA Announces Dividend

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group reduced their price objective on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Citigroup lowered their price objective on APA from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Truist Financial increased their target price on APA from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Mizuho lowered their price target on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their price objective on APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.