Korea Investment CORP Boosts Position in APA Co. (NASDAQ:APA)

Korea Investment CORP boosted its stake in APA Co. (NASDAQ:APA - Free Report) by 68.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,943 shares of the company's stock after buying an additional 140,800 shares during the quarter. Korea Investment CORP owned approximately 0.09% of APA worth $8,011,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cerity Partners LLC raised its position in shares of APA by 25.5% in the third quarter. Cerity Partners LLC now owns 28,710 shares of the company's stock valued at $702,000 after buying an additional 5,842 shares during the last quarter. Bank of Montreal Can grew its stake in APA by 5.4% during the 3rd quarter. Bank of Montreal Can now owns 359,409 shares of the company's stock valued at $8,816,000 after acquiring an additional 18,332 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in APA by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 302,301 shares of the company's stock valued at $7,394,000 after acquiring an additional 9,033 shares during the last quarter. Townsquare Capital LLC purchased a new position in APA in the 3rd quarter worth approximately $231,000. Finally, Glenmede Trust Co. NA lifted its stake in APA by 8.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,803 shares of the company's stock worth $240,000 after purchasing an additional 775 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on APA. Wells Fargo & Company cut their price target on APA from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Morgan Stanley set a $22.00 target price on APA and gave the stock an "underweight" rating in a research note on Wednesday, March 26th. Citigroup lowered their price target on shares of APA from $24.00 to $20.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. UBS Group lowered their price objective on APA from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $32.00 target price on shares of APA in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $27.68.

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APA Stock Down 14.4 %

Shares of NASDAQ APA traded down $2.56 during mid-day trading on Friday, hitting $15.18. The company had a trading volume of 19,921,606 shares, compared to its average volume of 6,537,422. The company has a market capitalization of $5.53 billion, a PE ratio of 2.14 and a beta of 2.73. The business's 50-day simple moving average is $21.14 and its 200 day simple moving average is $22.74. APA Co. has a 1-year low of $14.86 and a 1-year high of $36.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. On average, analysts predict that APA Co. will post 4.03 earnings per share for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.59%. The ex-dividend date is Tuesday, April 22nd. APA's dividend payout ratio (DPR) is presently 44.25%.

APA Profile

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.