APA Corporation $APA Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of APA Corporation (NASDAQ:APA) by 18.0% during the second quarter, Holdings Channel reports. The firm owned 865,193 shares of the company’s stock after purchasing an additional 132,155 shares during the quarter. American Century Companies Inc.’s holdings in APA were worth $15,824,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Stevens Capital Management LP purchased a new position in APA in the 2nd quarter worth about $559,000. Franklin Resources Inc. lifted its stake in APA by 38.4% during the second quarter. Franklin Resources Inc. now owns 680,934 shares of the company’s stock valued at $12,454,000 after buying an additional 188,911 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of APA by 16.3% in the second quarter. Legal & General Group Plc now owns 791,007 shares of the company’s stock worth $14,468,000 after buying an additional 111,123 shares during the period. MAI Capital Management boosted its holdings in shares of APA by 76.5% in the second quarter. MAI Capital Management now owns 2,134 shares of the company’s stock worth $39,000 after buying an additional 925 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of APA in the second quarter worth approximately $2,673,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APA has been the subject of several research analyst reports. Stephens upped their price target on shares of APA from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Royal Bank Of Canada boosted their target price on shares of APA from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Monday, November 17th. Piper Sandler increased their target price on APA from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Citigroup raised their target price on APA from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. upped their price target on APA from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.90.

APA Price Performance

NASDAQ APA opened at $25.45 on Wednesday. APA Corporation has a 1 year low of $13.58 and a 1 year high of $25.83. The company has a fifty day simple moving average of $23.82 and a 200 day simple moving average of $21.36. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The company has a market cap of $9.03 billion, a P/E ratio of 6.12, a P/E/G ratio of 6.77 and a beta of 0.75.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.74 by $0.19. APA had a net margin of 15.49% and a return on equity of 19.86%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm posted $1.00 EPS. The business’s quarterly revenue was down 16.4% on a year-over-year basis. On average, sell-side analysts predict that APA Corporation will post 4.03 EPS for the current year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Wednesday, October 22nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, October 22nd. APA’s 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.