Indiana Trust & Investment Management Co Invests $701,000 in APA Corporation $APA

Indiana Trust & Investment Management Co bought a new stake in APA Corporation (NASDAQ:APA) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 16,510 shares of the company’s stock, valued at approximately $701,000.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in APA by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after buying an additional 2,070 shares during the period. NewEdge Advisors LLC boosted its stake in shares of APA by 49.6% during the 1st quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after acquiring an additional 3,578 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of APA by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after acquiring an additional 806,252 shares during the period. Focus Partners Wealth increased its holdings in shares of APA by 10.6% during the 1st quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock worth $942,000 after acquiring an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of APA during the 2nd quarter worth approximately $5,199,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Performance

Shares of NASDAQ APA opened at $32.36 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average price is $36.61 and its two-hundred day moving average price is $32.89. APA Corporation has a one year low of $17.86 and a one year high of $45.66. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 7.54 and a beta of 0.35.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The company’s revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. On average, equities analysts forecast that APA Corporation will post 5.35 EPS for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio (DPR) is currently 23.31%.

Insiders Place Their Bets

In other APA news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the sale, the vice president owned 66,810 shares of the company’s stock, valued at $2,675,072.40. The trade was a 12.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APA shares. Weiss Ratings downgraded APA from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Capital One Financial upped their price objective on shares of APA from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Wolfe Research raised their target price on shares of APA from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Bank of America lifted their target price on shares of APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a report on Monday, March 16th. Finally, Barclays upped their price target on shares of APA from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.88.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.