APA Co. (NASDAQ:APA) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council lifted its stake in shares of APA Co. (NASDAQ:APA) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,303 shares of the company’s stock after acquiring an additional 1,900 shares during the period. South Dakota Investment Council’s holdings in APA were worth $1,374,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in APA during the third quarter worth about $34,000. Quent Capital LLC lifted its position in APA by 64.0% during the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after buying an additional 375 shares during the period. Rakuten Securities Inc. purchased a new position in APA during the fourth quarter worth about $34,000. Tobam purchased a new position in APA during the fourth quarter worth about $52,000. Finally, CVA Family Office LLC purchased a new position in APA during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

Shares of NASDAQ:APA opened at $32.05 on Thursday. The company has a market cap of $9.65 billion, a P/E ratio of 3.45 and a beta of 3.27. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. APA Co. has a one year low of $29.47 and a one year high of $46.15. The business’s 50-day simple moving average is $32.51 and its 200 day simple moving average is $34.52.

APA (NASDAQ:APA) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. APA had a net margin of 34.95% and a return on equity of 62.64%. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. On average, sell-side analysts forecast that APA Co. will post 5.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, April 19th. APA’s payout ratio is currently 10.78%.

Wall Street Analysts Forecast Growth

APA has been the topic of several recent analyst reports. Raymond James reduced their target price on APA from $44.00 to $43.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Susquehanna increased their target price on APA from $50.00 to $54.00 and gave the stock a “positive” rating in a research report on Monday. Piper Sandler raised their price objective on APA from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Mizuho cut their price objective on APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a report on Friday, March 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of APA in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.25.

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.