California Public Employees Retirement System trimmed its holdings in APA Co. (NASDAQ:APA - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 587,645 shares of the company's stock after selling 36,466 shares during the period. California Public Employees Retirement System owned about 0.16% of APA worth $13,569,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in APA. Charles Schwab Investment Management Inc. grew its stake in shares of APA by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company's stock valued at $297,540,000 after buying an additional 894,574 shares during the last quarter. Geode Capital Management LLC boosted its position in APA by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company's stock valued at $226,928,000 after acquiring an additional 224,547 shares in the last quarter. Bank of New York Mellon Corp boosted its position in APA by 29.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company's stock valued at $94,500,000 after acquiring an additional 929,770 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in APA by 6.1% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 1,532,360 shares of the company's stock valued at $35,382,000 after acquiring an additional 88,656 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in APA by 12.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,415,364 shares of the company's stock valued at $32,681,000 after acquiring an additional 154,040 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.
APA Trading Down 13.6 %
NASDAQ APA traded down $2.27 on Thursday, reaching $14.44. The stock had a trading volume of 15,450,102 shares, compared to its average volume of 6,683,191. The stock has a fifty day moving average price of $20.37 and a two-hundred day moving average price of $22.41. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 2.04 and a beta of 2.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA Co. has a 12-month low of $13.58 and a 12-month high of $35.25.
APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. As a group, sell-side analysts forecast that APA Co. will post 4.03 EPS for the current fiscal year.
APA Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.92%. APA's payout ratio is currently 44.25%.
Analyst Upgrades and Downgrades
APA has been the topic of several recent research reports. Morgan Stanley set a $22.00 target price on APA and gave the company an "underweight" rating in a research report on Wednesday, March 26th. Wells Fargo & Company decreased their price objective on APA from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Citigroup decreased their price objective on APA from $24.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Susquehanna decreased their price objective on APA from $33.00 to $31.00 and set a "positive" rating for the company in a report on Monday, March 3rd. Finally, Barclays decreased their price objective on APA from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, March 18th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $27.68.
Read Our Latest Report on APA
APA Company Profile
(
Free Report)
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.
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