Twin Capital Management Inc. Invests $1.41 Million in APA Corporation $APA

Twin Capital Management Inc. bought a new position in shares of APA Corporation (NASDAQ:APA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,187 shares of the company’s stock, valued at approximately $1,408,000.

Several other hedge funds have also recently bought and sold shares of APA. Rockefeller Capital Management L.P. grew its stake in APA by 0.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after buying an additional 375 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of APA by 1.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock valued at $689,000 after acquiring an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in shares of APA by 3.2% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock valued at $358,000 after acquiring an additional 461 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of APA by 0.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 130,869 shares of the company’s stock valued at $3,201,000 after acquiring an additional 527 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. lifted its holdings in shares of APA by 1.9% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 30,093 shares of the company’s stock valued at $736,000 after acquiring an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Price Performance

APA opened at $34.27 on Thursday. APA Corporation has a twelve month low of $17.86 and a twelve month high of $45.66. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 7.99 and a beta of 0.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $35.76 and a 200 day simple moving average of $33.44.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS. Equities research analysts expect that APA Corporation will post 5.13 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s payout ratio is presently 23.31%.

Insider Activity at APA

In related news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the transaction, the vice president owned 66,810 shares in the company, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank Of Canada increased their price target on APA from $29.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. The Goldman Sachs Group reduced their price objective on APA from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Tuesday, June 30th. Scotiabank upped their target price on APA from $26.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. BMO Capital Markets decreased their target price on APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. increased their target price on APA from $38.00 to $41.00 in a research note on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.42.

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.