APA Co. (NASDAQ:APA) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in APA Co. (NASDAQ:APAGet Rating) by 4.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,153 shares of the company’s stock after selling 2,328 shares during the period. Mutual of America Capital Management LLC’s holdings in APA were worth $1,611,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Mackenzie Financial Corp grew its holdings in shares of APA by 11.3% in the second quarter. Mackenzie Financial Corp now owns 67,209 shares of the company’s stock valued at $2,346,000 after purchasing an additional 6,811 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in APA in the second quarter worth approximately $704,000. Industrial Alliance Investment Management Inc. purchased a new position in APA in the second quarter worth approximately $239,000. Cerity Partners LLC lifted its stake in APA by 112.2% in the second quarter. Cerity Partners LLC now owns 10,543 shares of the company’s stock worth $368,000 after acquiring an additional 5,574 shares during the last quarter. Finally, Qtron Investments LLC purchased a new position in APA in the second quarter worth approximately $290,000. Institutional investors and hedge funds own 83.36% of the company’s stock.

APA Stock Performance

Shares of APA stock opened at $46.78 on Friday. The firm’s fifty day simple moving average is $44.29 and its 200-day simple moving average is $39.53. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 4.47, a PEG ratio of 0.26 and a beta of 3.70. APA Co. has a 12 month low of $22.94 and a 12 month high of $51.95. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.05 and a quick ratio of 1.05.

APA (NASDAQ:APAGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.05. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.35 billion. APA had a net margin of 33.83% and a return on equity of 325.67%. APA’s revenue was up 40.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. As a group, equities analysts forecast that APA Co. will post 8.1 earnings per share for the current year.

APA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st were paid a $0.25 dividend. This is a boost from APA’s previous quarterly dividend of $0.13. This represents a $1.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, October 20th. APA’s payout ratio is currently 9.55%.

APA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 14th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on APA shares. Citigroup lifted their price target on shares of APA from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, November 14th. Mizuho decreased their price target on shares of APA from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Susquehanna reduced their price objective on shares of APA from $52.00 to $49.00 and set a “positive” rating for the company in a research report on Friday, August 5th. Barclays reduced their price objective on shares of APA from $53.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, October 19th. Finally, Raymond James reduced their price objective on shares of APA from $75.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 5th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, APA has a consensus rating of “Moderate Buy” and a consensus price target of $52.39.

APA Company Profile

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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