APA Co. (NASDAQ:APA) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in shares of APA Co. (NASDAQ:APA) by 23.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,268 shares of the company’s stock after purchasing an additional 54,985 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of APA worth $8,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares in the last quarter. Wealthquest Corp raised its position in shares of APA by 21.7% in the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock worth $5,533,000 after acquiring an additional 27,513 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of APA by 10.6% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after acquiring an additional 1,938,335 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of APA by 18.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after acquiring an additional 7,580 shares during the period. Finally, Ellis Investment Partners LLC purchased a new position in shares of APA in the 2nd quarter valued at about $2,499,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on APA shares. Sanford C. Bernstein reduced their target price on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Susquehanna decreased their price objective on shares of APA from $57.00 to $52.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 target price on shares of APA in a research note on Tuesday, September 17th. Scotiabank decreased their price target on shares of APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Piper Sandler cut their price objective on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.19.

APA Stock Up 1.4 %

APA stock opened at $26.89 on Friday. APA Co. has a one year low of $22.72 and a one year high of $43.58. The firm has a market cap of $9.98 billion, a PE ratio of 3.01 and a beta of 3.24. The firm’s 50 day moving average price is $27.14 and its 200-day moving average price is $29.70. 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 (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 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 return on equity of 35.95% and a net margin of 32.66%. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. On average, equities research analysts anticipate that APA Co. will post 4.04 EPS for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 11.19%.

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.