abrdn plc grew its holdings in APA Co. (NASDAQ:APA – Get Rating) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,056 shares of the company’s stock after purchasing an additional 3,815 shares during the period. abrdn plc’s holdings in APA were worth $2,663,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in APA. Whittier Trust Co. of Nevada Inc. grew its stake in shares of APA by 110.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 561 shares of the company’s stock valued at $26,000 after buying an additional 295 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in APA during the fourth quarter worth $30,000. Covestor Ltd boosted its position in APA by 117.8% during the first quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after purchasing an additional 437 shares during the period. Achmea Investment Management B.V. boosted its position in APA by 100.0% during the fourth quarter. Achmea Investment Management B.V. now owns 784 shares of the company’s stock worth $34,000 after purchasing an additional 392 shares during the period. Finally, Lindbrook Capital LLC boosted its position in APA by 47.3% during the fourth quarter. Lindbrook Capital LLC now owns 791 shares of the company’s stock worth $37,000 after purchasing an additional 254 shares during the period. 80.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
APA has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of APA from $33.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, April 21st. Mizuho reduced their target price on shares of APA from $45.00 to $37.00 in a research report on Friday, May 19th. Morgan Stanley boosted their price target on APA from $36.00 to $38.00 in a research note on Monday, May 15th. Bank of America dropped their price target on APA from $60.00 to $57.00 in a research note on Thursday, May 4th. Finally, TheStreet raised APA from a “c” rating to a “b-” rating in a research note on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, APA has a consensus rating of “Moderate Buy” and an average target price of $46.88.
APA Stock Performance
APA (NASDAQ:APA – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.98 by $0.21. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.84 billion. APA had a return on equity of 158.38% and a net margin of 19.72%. The firm’s revenue was down 47.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 earnings per share. As a group, research analysts forecast that APA Co. will post 5.21 earnings per share for the current year.
APA Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Friday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. APA’s payout ratio is 16.26%.
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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