Hsbc Holdings PLC Purchases 329,462 Shares of APA Co. (NASDAQ:APA)

Hsbc Holdings PLC boosted its holdings in APA Co. (NASDAQ:APA - Free Report) by 50.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 985,596 shares of the company's stock after purchasing an additional 329,462 shares during the quarter. Hsbc Holdings PLC owned 0.27% of APA worth $29,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Principal Securities Inc. bought a new stake in shares of APA during the 4th quarter valued at $39,000. Dimensional Fund Advisors LP grew its stake in APA by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company's stock worth $66,093,000 after buying an additional 345,192 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in APA by 66.7% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,008 shares of the company's stock worth $216,000 after buying an additional 2,403 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in APA by 7.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 41,648 shares of the company's stock valued at $1,494,000 after buying an additional 2,787 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of APA by 61.0% in the 4th quarter. Wells Fargo & Company MN now owns 305,696 shares of the company's stock valued at $10,968,000 after buying an additional 115,876 shares in the last quarter. Institutional investors own 83.01% of the company's stock.

APA Stock Down 1.1 %

Shares of APA stock opened at $25.07 on Friday. The stock's 50-day moving average is $28.29 and its 200 day moving average is $30.09. APA Co. has a one year low of $22.72 and a one year high of $43.58. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 2.80 and a beta of 3.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the firm posted $0.85 EPS. The company's quarterly revenue was up 41.6% on a year-over-year basis. Equities research analysts anticipate that APA Co. will post 4.34 EPS for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.99%. APA's dividend payout ratio is currently 11.19%.

Wall Street Analysts Forecast Growth

APA has been the topic of several analyst reports. UBS Group reduced their price target on shares of APA from $35.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday. Evercore ISI reiterated an "in-line" rating and issued a $39.00 price target on shares of APA in a research note on Thursday, September 12th. Piper Sandler lowered their price target on APA from $34.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, August 15th. Susquehanna decreased their target price on APA from $57.00 to $52.00 and set a "positive" rating on the stock in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their target price on APA from $50.00 to $49.00 and set an "overweight" rating for the company in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $36.38.

About APA

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.