Guggenheim Capital LLC increased its position in shares of APA Co. (NASDAQ:APA – Get Rating) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,349 shares of the company’s stock after buying an additional 743 shares during the quarter. Guggenheim Capital LLC’s holdings in APA were worth $1,688,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in APA by 14.4% during the second quarter. Northern Trust Corp now owns 4,182,367 shares of the company’s stock worth $145,965,000 after purchasing an additional 526,513 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of APA by 191.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,248 shares of the company’s stock valued at $129,952,000 after acquiring an additional 2,064,022 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of APA by 385.8% in the second quarter. Renaissance Technologies LLC now owns 2,954,445 shares of the company’s stock valued at $103,110,000 after acquiring an additional 2,346,254 shares during the last quarter. First Trust Advisors LP raised its stake in shares of APA by 14.2% in the first quarter. First Trust Advisors LP now owns 2,854,636 shares of the company’s stock valued at $117,982,000 after acquiring an additional 354,346 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of APA by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,774,582 shares of the company’s stock valued at $114,673,000 after acquiring an additional 68,392 shares during the last quarter. Institutional investors own 80.79% of the company’s stock.
Analyst Upgrades and Downgrades
APA has been the subject of a number of research analyst reports. TheStreet upgraded shares of APA from a “c” rating to a “b-” rating in a research note on Thursday, February 23rd. Roth Capital reiterated a “buy” rating on shares of APA in a research note on Wednesday, February 8th. Truist Financial dropped their price objective on shares of APA from $63.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Mizuho cut shares of APA from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $52.00 to $48.00 in a research report on Tuesday, January 10th. Finally, Citigroup boosted their price objective on shares of APA from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, November 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.71.
APA Price Performance
APA (NASDAQ:APA – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.04. APA had a net margin of 34.14% and a return on equity of 198.44%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the business earned $1.29 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, analysts anticipate that APA Co. will post 6.89 earnings per share for the current year.
APA Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Friday, April 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, April 20th. APA’s dividend payout ratio (DPR) is 9.26%.
About APA
APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the United States, Egypt and the United Kingdom, and exploration activities offshore in Suriname. The company was founded in 1954 and is headquartered in Houston, TX.
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