PNC Financial Services Group Inc. Purchases 66,344 Shares of APA Corporation $APA

PNC Financial Services Group Inc. lifted its position in APA Corporation (NASDAQ:APA) by 87.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 142,048 shares of the company’s stock after buying an additional 66,344 shares during the period. PNC Financial Services Group Inc.’s holdings in APA were worth $2,598,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. CVA Family Office LLC boosted its stake in APA by 6,096.7% in the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after acquiring an additional 1,829 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of APA by 144.9% during the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after purchasing an additional 1,104 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of APA by 214.3% during the 2nd quarter. Whittier Trust Co. now owns 2,200 shares of the company’s stock valued at $40,000 after purchasing an additional 1,500 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of APA by 1,731.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,363 shares of the company’s stock worth $43,000 after purchasing an additional 2,234 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in APA during the 1st quarter worth $55,000. Institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on APA. Royal Bank Of Canada increased their price target on APA from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Monday. Evercore ISI decreased their price objective on shares of APA from $21.00 to $16.00 in a research report on Tuesday, November 4th. The Goldman Sachs Group upgraded shares of APA from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Susquehanna upped their price target on shares of APA from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Wednesday, November 12th. Finally, Wolfe Research raised their price target on shares of APA from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.56.

APA Stock Performance

APA opened at $24.92 on Wednesday. The stock has a market cap of $8.84 billion, a P/E ratio of 8.33, a P/E/G ratio of 6.28 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a fifty day moving average price of $23.63 and a 200 day moving average price of $20.83. APA Corporation has a 1 year low of $13.58 and a 1 year high of $25.83.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. APA had a net margin of 10.53% and a return on equity of 20.98%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company earned $1.00 earnings per share. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. Equities research analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.0%. APA’s dividend payout ratio is currently 24.04%.

APA Company 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.