APA Corporation $APA Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN raised its position in APA Corporation (NASDAQ:APA) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 430,224 shares of the company’s stock after buying an additional 16,874 shares during the quarter. OLD National Bancorp IN owned approximately 0.12% of APA worth $18,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of APA. Summit Securities Group LLC raised its position in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after purchasing an additional 710 shares during the last quarter. Camelot Portfolios LLC purchased a new position in APA during the 4th quarter worth $37,000. Community Bank N.A. acquired a new position in APA in the third quarter valued at $43,000. Cary Street Partners Investment Advisory LLC acquired a new position in APA in the fourth quarter valued at $47,000. Finally, Virtus Advisers LLC purchased a new stake in shares of APA in the third quarter valued at about $57,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

APA has been the subject of several recent research reports. BMO Capital Markets decreased their target price on shares of APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research note on Wednesday, May 13th. Capital One Financial boosted their price target on APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Bank of America upped their price objective on APA from $23.00 to $27.00 and gave the company an “underperform” rating in a research note on Monday, March 16th. Weiss Ratings cut APA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Wolfe Research lifted their target price on APA from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.08.

APA Stock Up 0.3%

Shares of NASDAQ:APA opened at $33.42 on Friday. The company has a market cap of $11.81 billion, a price-to-earnings ratio of 7.79 and a beta of 0.33. The firm’s 50-day simple moving average is $37.14 and its 200-day simple moving average is $32.62. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. APA Corporation has a fifty-two week low of $17.86 and a fifty-two week high of $45.66.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The business’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. As a group, equities research analysts predict that APA Corporation will post 5.6 earnings per share for the current year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 3.0%. APA’s payout ratio is presently 23.31%.

APA 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.