Victory Capital Management Inc. Has $27.20 Million Position in APA Co. (NASDAQ:APA)

Victory Capital Management Inc. lessened its holdings in APA Co. (NASDAQ:APA) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 757,997 shares of the company’s stock after selling 59,121 shares during the quarter. Victory Capital Management Inc. owned 0.25% of APA worth $27,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APA. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of APA during the 3rd quarter worth approximately $34,000. Quent Capital LLC boosted its stake in shares of APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after purchasing an additional 375 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of APA in the 4th quarter worth about $34,000. Tobam bought a new stake in shares of APA in the 4th quarter worth about $52,000. Finally, CVA Family Office LLC acquired a new stake in shares of APA during the 4th quarter worth about $56,000. 83.01% of the stock is owned by institutional investors.

APA Stock Performance

Shares of APA stock opened at $30.26 on Wednesday. The stock has a market cap of $9.11 billion, a PE ratio of 3.37 and a beta of 3.29. The stock has a 50-day moving average of $32.53 and a 200-day moving average of $33.91. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.16. APA Co. has a one year low of $28.90 and a one year high of $46.15.

APA (NASDAQ:APA) last issued its earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 EPS. As a group, sell-side analysts expect that APA Co. will post 5.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 3.30%. APA’s dividend payout ratio is presently 11.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company began coverage on shares of APA in a research report on Wednesday, April 24th. They issued an “overweight” rating and a $55.00 price target on the stock. Susquehanna increased their price target on APA from $54.00 to $57.00 and gave the stock a “positive” rating in a research report on Tuesday. Roth Mkm boosted their price objective on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. StockNews.com lowered APA from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Barclays decreased their price objective on shares of APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, APA currently has a consensus rating of “Hold” and an average target price of $42.20.

APA Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.