Asset Management One Co. Ltd. Grows Stock Position in APA Corporation $APA

Asset Management One Co. Ltd. grew its position in shares of APA Corporation (NASDAQ:APA) by 11.4% during the second quarter, HoldingsChannel reports. The firm owned 12,015 shares of the company’s stock after buying an additional 1,233 shares during the period. Asset Management One Co. Ltd.’s holdings in APA were worth $220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in APA. Cullen Investment Group LTD. grew its holdings in APA by 5.9% during the 2nd quarter. Cullen Investment Group LTD. now owns 11,497 shares of the company’s stock valued at $210,000 after purchasing an additional 637 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its holdings in APA by 1.5% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 44,194 shares of the company’s stock worth $808,000 after buying an additional 638 shares in the last quarter. Comerica Bank boosted its position in APA by 0.7% in the 1st quarter. Comerica Bank now owns 89,616 shares of the company’s stock valued at $1,884,000 after buying an additional 644 shares during the last quarter. TD Asset Management Inc grew its stake in shares of APA by 1.1% during the second quarter. TD Asset Management Inc now owns 65,835 shares of the company’s stock valued at $1,204,000 after acquiring an additional 698 shares in the last quarter. Finally, Lipe & Dalton grew its stake in shares of APA by 3.5% during the first quarter. Lipe & Dalton now owns 23,290 shares of the company’s stock valued at $490,000 after acquiring an additional 780 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Price Performance

APA opened at $22.40 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $23.37 and its 200 day moving average price is $20.06. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $25.83. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 6.28 and a beta of 1.16.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.45 by $0.42. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.The business’s revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share. As a group, sell-side analysts expect that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, 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 4.5%. The ex-dividend date is Wednesday, October 22nd. APA’s dividend payout ratio is presently 33.44%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APA. Stephens reduced their price target on APA from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, October 24th. Royal Bank Of Canada increased their target price on APA from $23.00 to $24.00 and gave the company a “sector perform” rating in a research note on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of APA in a research note on Tuesday, October 14th. Morgan Stanley reduced their price objective on shares of APA from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 14th. Finally, UBS Group raised their price objective on shares of APA from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, APA currently has a consensus rating of “Hold” and an average target price of $24.79.

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.