Korea Investment CORP Boosts Stake in APA Co. (NASDAQ:APA)

Korea Investment CORP grew its holdings in APA Co. (NASDAQ:APA) by 68.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,943 shares of the company’s stock after purchasing an additional 140,800 shares during the period. Korea Investment CORP owned approximately 0.09% of APA worth $8,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of APA. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of APA by 83.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 723,376 shares of the company’s stock valued at $16,703,000 after acquiring an additional 328,213 shares during the period. Modern Wealth Management LLC acquired a new stake in APA in the 4th quarter valued at approximately $302,000. LPL Financial LLC raised its position in APA by 45.2% in the fourth quarter. LPL Financial LLC now owns 265,054 shares of the company’s stock valued at $6,120,000 after purchasing an additional 82,453 shares during the period. Samalin Investment Counsel LLC acquired a new position in APA during the fourth quarter worth $307,000. Finally, Swan Global Investments LLC purchased a new position in shares of APA during the fourth quarter worth $210,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Price Performance

Shares of NASDAQ:APA opened at $21.02 on Tuesday. APA Co. has a 52 week low of $17.66 and a 52 week high of $36.05. The company has a 50-day moving average price of $21.51 and a 200 day moving average price of $22.89. The company has a market cap of $7.65 billion, a P/E ratio of 2.97 and a beta of 3.26. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. Research analysts predict that APA Co. will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.76%. APA’s dividend payout ratio (DPR) is presently 44.25%.

Analyst Ratings Changes

Several equities analysts have weighed in on APA shares. Citigroup dropped their target price on APA from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Raymond James downgraded shares of APA from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $45.00 to $32.00 in a research note on Monday, March 10th. Mizuho decreased their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. Piper Sandler reduced their price objective on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of APA in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.25.

APA Company 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.