102,900 APA Corporation $APA Shares Purchased by Keybank National Association OH

Keybank National Association OH lifted its position in APA Corporation (NASDAQ:APA) by 1,094.6% in the third quarter, Holdings Channel reports. The firm owned 112,301 shares of the company’s stock after buying an additional 102,900 shares during the period. Keybank National Association OH’s holdings in APA were worth $4,665,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in APA in the second quarter worth approximately $1,173,231,000. State Street Corp increased its holdings in APA by 1.5% during the 2nd quarter. State Street Corp now owns 25,181,423 shares of the company’s stock worth $820,159,000 after purchasing an additional 377,429 shares during the period. Dimensional Fund Advisors LP increased its holdings in APA by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company’s stock worth $695,099,000 after purchasing an additional 1,055,016 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in APA by 1,726.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after purchasing an additional 4,569,779 shares during the period. Finally, First Trust Advisors LP raised its position in APA by 55.0% during the 1st quarter. First Trust Advisors LP now owns 4,154,301 shares of the company’s stock valued at $176,309,000 after purchasing an additional 1,473,626 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Up 2.0%

NASDAQ APA opened at $47.66 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The firm has a market cap of $16.00 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 0.70 and a beta of 0.29. The company has a 50 day moving average price of $46.10 and a 200 day moving average price of $38.48. APA Corporation has a 52 week low of $23.06 and a 52 week high of $52.96.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, November 4th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.34. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.48 billion. APA had a net margin of 23.08% and a return on equity of 28.34%. APA’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.93 earnings per share. As a group, sell-side analysts forecast that APA Corporation will post 6.72 EPS for the current fiscal year.

APA announced that its Board of Directors has approved a stock repurchase plan on Wednesday, September 16th that allows the company to repurchase 40,000,000 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. APA’s dividend payout ratio is presently 16.23%.

Analyst Ratings Changes

Several brokerages have weighed in on APA. Royal Bank Of Canada upped their target price on APA from $47.00 to $49.00 and gave the stock a “sector perform” rating in a report on Thursday, October 15th. Mizuho increased their price target on APA from $36.00 to $44.00 and gave the stock an “underperform” rating in a research report on Thursday, October 15th. Truist Financial raised their price target on APA from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Monday. Scotiabank assumed coverage on APA in a research note on Wednesday, October 14th. They set a “sector perform” rating and a $44.00 price target on the stock. Finally, Jefferies Financial Group restated a “hold” rating and issued a $41.00 price objective on shares of APA in a report on Sunday, October 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, APA has an average rating of “Hold” and an average price target of $45.17.

APA Profile

APA Corporation is an independent energy company that explores for, develops and produces crude oil, natural gas and natural gas liquids. Its activities include operating wells and related infrastructure, as well as evaluating and developing oil and natural gas resources. The company’s principal operating areas include the United States and Egypt. APA also has offshore exploration interests in Suriname, where it has worked with partners to assess resources in the region. APA traces its history to Apache Corporation, founded in 1954.