APA Corporation $APA Stock: Keybank National Association OH Raises Stake

Keybank National Association OH increased its stake in APA Corporation (NASDAQ:APA) by 1,094.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,301 shares of the company’s stock after buying an additional 102,900 shares during the quarter. Keybank National Association OH’s holdings in APA were worth $4,665,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of APA. Pinnacle Wealth Planning Services Inc. increased its position in APA by 8.7% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,456 shares of the company’s stock valued at $102,000 after acquiring an additional 197 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its stake in shares of APA by 24.7% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 1,188 shares of the company’s stock valued at $49,000 after acquiring an additional 235 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of APA by 9.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,206 shares of the company’s stock worth $104,000 after acquiring an additional 285 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after acquiring an additional 330 shares during the last quarter. Finally, Waverly Advisors LLC lifted its holdings in shares of APA by 4.3% in the 2nd quarter. Waverly Advisors LLC now owns 9,849 shares of the company’s stock worth $321,000 after acquiring an additional 405 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on APA. Citigroup lifted their price target on shares of APA from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Benchmark increased their price objective on shares of APA from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Seaport Research Partners initiated coverage on shares of APA in a research report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Roth Capital set a $39.00 price objective on shares of APA in a research note on Thursday, August 6th. Finally, Zacks Research raised shares of APA from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.17.

APA Stock Performance

APA stock opened at $47.66 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $46.10 and its two-hundred day simple moving average is $38.48. APA Corporation has a twelve month low of $23.06 and a twelve month high of $52.96. The firm has a market cap of $16.00 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.70 and a beta of 0.29.

APA (NASDAQ:APA) last released its earnings results on Wednesday, November 4th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.34. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.48 billion. APA had a return on equity of 28.34% and a net margin of 23.08%. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. Analysts predict that APA Corporation will post 6.72 earnings per share for the current year.

APA declared that its board has approved a stock buyback program on Wednesday, September 16th that authorizes the company to buy back 40,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Share repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, October 22nd will be issued a $0.25 dividend. The ex-dividend date is Thursday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. APA’s dividend payout ratio is presently 16.23%.

APA Profile

APA Corporation is an independent energy company that explores for, develops and produces crude oil, natural gas and natural gas liquids. Its activities include operating wells and related infrastructure, as well as evaluating and developing oil and natural gas resources. The company’s principal operating areas include the United States and Egypt. APA also has offshore exploration interests in Suriname, where it has worked with partners to assess resources in the region. APA traces its history to Apache Corporation, founded in 1954.