Truist Financial Corp Acquires 933 Shares of APA Co. (NASDAQ:APA)

Truist Financial Corp increased its holdings in shares of APA Co. (NASDAQ:APAGet Rating) by 6.1% during the third quarter, HoldingsChannel.com reports. The fund owned 16,275 shares of the company’s stock after buying an additional 933 shares during the quarter. Truist Financial Corp’s holdings in APA were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Clear Street Markets LLC increased its position in shares of APA by 375.2% during the 2nd quarter. Clear Street Markets LLC now owns 708 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of APA during the 2nd quarter valued at $26,000. James Investment Research Inc. increased its position in shares of APA by 205.7% during the 2nd quarter. James Investment Research Inc. now owns 755 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the last quarter. Core Alternative Capital grew its stake in shares of APA by 657.1% during the 3rd quarter. Core Alternative Capital now owns 795 shares of the company’s stock worth $27,000 after acquiring an additional 690 shares during the period. Finally, Covestor Ltd grew its stake in shares of APA by 117.8% during the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after acquiring an additional 437 shares during the period. 80.79% of the stock is currently owned by institutional investors.

APA Price Performance

Shares of APA stock opened at $45.09 on Monday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50 day simple moving average is $45.32 and its two-hundred day simple moving average is $42.24. The stock has a market capitalization of $14.50 billion, a P/E ratio of 4.31, a price-to-earnings-growth ratio of 0.17 and a beta of 3.58. APA Co. has a one year low of $27.98 and a one year high of $51.95.

APA (NASDAQ:APAGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.05. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.35 billion. APA had a return on equity of 325.67% and a net margin of 33.83%. The business’s quarterly revenue was up 40.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Analysts forecast that APA Co. will post 7.97 EPS for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 22nd. Investors of record on Monday, January 23rd will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. APA’s dividend payout ratio is presently 9.55%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on APA shares. Citigroup increased their price target on APA from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, November 14th. Mizuho downgraded APA from a “buy” rating to an “underperform” rating and cut their target price for the stock from $52.00 to $48.00 in a research note on Tuesday, January 10th. Barclays raised their target price on APA from $46.00 to $55.00 in a research note on Wednesday, December 7th. Royal Bank of Canada raised their target price on APA from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research note on Monday, November 14th. Finally, Truist Financial cut their target price on APA from $69.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.81.

About APA

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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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