Illinois Municipal Retirement Fund Has $3.12 Million Position in APA Corporation $APA

Illinois Municipal Retirement Fund grew its stake in shares of APA Corporation (NASDAQ:APA) by 88.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,555 shares of the company’s stock after acquiring an additional 60,165 shares during the period. Illinois Municipal Retirement Fund’s holdings in APA were worth $3,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APA. Caprock Group LLC purchased a new position in APA in the third quarter valued at about $213,000. Oppenheimer & Co. Inc. lifted its holdings in shares of APA by 25.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 52,720 shares of the company’s stock valued at $1,280,000 after buying an additional 10,602 shares during the last quarter. Paradigm Capital Management LLC NV bought a new stake in shares of APA in the 3rd quarter valued at approximately $379,000. Murphy Pohlad Asset Management LLC increased its holdings in APA by 1.1% in the third quarter. Murphy Pohlad Asset Management LLC now owns 133,933 shares of the company’s stock worth $3,252,000 after buying an additional 1,500 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in APA during the third quarter valued at approximately $217,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Up 3.7%

APA stock opened at $27.92 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.78. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $28.56. The firm has a fifty day moving average price of $25.59 and a two-hundred day moving average price of $23.92. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 6.71, a P/E/G ratio of 12.76 and a beta of 0.74.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. APA’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analysts Forecast Growth

Several analysts have commented on APA shares. Johnson Rice raised shares of APA from a “hold” rating to an “accumulate” rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Thursday, December 4th. Benchmark reiterated a “buy” rating on shares of APA in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of APA in a research report on Monday, December 29th. Royal Bank Of Canada boosted their price target on APA from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Finally, Morgan Stanley decreased their price target on APA from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Friday, January 23rd. Seven investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.35.

APA Company 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.