Krane Funds Advisors LLC Invests $506,000 in APA Corporation $APA

Krane Funds Advisors LLC purchased a new stake in shares of APA Corporation (NASDAQ:APA) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 22,252 shares of the company’s stock, valued at approximately $506,000.

A number of other hedge funds have also recently added to or reduced their stakes in APA. AQR Capital Management LLC raised its position in APA by 157.1% during the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after acquiring an additional 1,869,891 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of APA by 7,627.3% during the 3rd quarter. Evergreen Capital Management LLC now owns 1,013,516 shares of the company’s stock worth $24,608,000 after purchasing an additional 1,000,400 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of APA by 160.5% during the 3rd quarter. SG Americas Securities LLC now owns 336,277 shares of the company’s stock valued at $8,165,000 after purchasing an additional 892,438 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of APA by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock valued at $56,092,000 after purchasing an additional 806,252 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of APA by 528.8% in the 2nd quarter. Quantinno Capital Management LP now owns 681,588 shares of the company’s stock valued at $12,466,000 after purchasing an additional 573,193 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

Shares of NASDAQ APA opened at $28.72 on Tuesday. APA Corporation has a 12 month low of $13.58 and a 12 month high of $30.08. The company has a market cap of $10.19 billion, a P/E ratio of 6.90, a P/E/G ratio of 13.28 and a beta of 0.74. The business’s 50 day moving average is $25.89 and its two-hundred day moving average is $24.34. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, April 22nd. APA’s dividend payout ratio is presently 24.04%.

Analyst Ratings Changes

Several equities analysts have weighed in on APA shares. Mizuho raised their target price on APA from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Friday, December 12th. The Goldman Sachs Group increased their price objective on APA from $21.00 to $23.00 and gave the company a “sell” rating in a report on Thursday, January 22nd. Stephens raised their price objective on APA from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada upped their target price on APA from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Finally, Wolfe Research reissued an “outperform” rating and issued a $35.00 price target on shares of APA in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.39.

APA 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.