Alaska Permanent Fund Corp Has $2.53 Million Stake in APA Co. (NASDAQ:APA)

Alaska Permanent Fund Corp boosted its holdings in APA Co. (NASDAQ:APA) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,390 shares of the company’s stock after purchasing an additional 590 shares during the period. Alaska Permanent Fund Corp’s holdings in APA were worth $2,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of APA in the 3rd quarter valued at about $34,000. Quent Capital LLC lifted its stake in shares of APA by 64.0% during the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after buying an additional 375 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of APA during the 4th quarter worth about $34,000. Tobam acquired a new stake in shares of APA during the 4th quarter worth about $52,000. Finally, CVA Family Office LLC acquired a new stake in shares of APA during the 4th quarter worth about $56,000. Institutional investors own 83.01% of the company’s stock.

APA Trading Down 0.7 %

Shares of NASDAQ:APA traded down $0.24 during trading on Thursday, reaching $31.81. The stock had a trading volume of 752,085 shares, compared to its average volume of 6,756,622. The firm’s fifty day moving average is $32.51 and its 200 day moving average is $34.52. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. APA Co. has a 52 week low of $29.47 and a 52 week high of $46.15. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 3.45 and a beta of 3.27.

APA (NASDAQ:APA) last released its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. The firm’s revenue was down 12.3% on a year-over-year basis. As a group, equities analysts forecast that APA Co. will post 5.03 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.14%. APA’s payout ratio is presently 10.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APA. Truist Financial cut their target price on shares of APA from $59.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Piper Sandler lifted their price objective on shares of APA from $33.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Susquehanna lifted their price objective on shares of APA from $50.00 to $54.00 and gave the stock a “positive” rating in a research note on Monday. Scotiabank restated a “sector perform” rating and issued a $37.00 target price (down from $43.00) on shares of APA in a research report on Tuesday, January 16th. Finally, Raymond James dropped their target price on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.25.

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.