Illinois Municipal Retirement Fund Has $3.12 Million Stake in APA Corporation $APA

Illinois Municipal Retirement Fund grew its stake in shares of APA Corporation (NASDAQ:APA) by 88.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 128,555 shares of the company’s stock after buying an additional 60,165 shares during the period. Illinois Municipal Retirement Fund’s holdings in APA were worth $3,121,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in APA by 2.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,208,961 shares of the company’s stock valued at $259,882,000 after acquiring an additional 275,981 shares in the last quarter. AQR Capital Management LLC increased its position in shares of APA by 157.1% during the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after purchasing an additional 1,869,891 shares during the period. First Trust Advisors LP raised its stake in shares of APA by 23.9% in the second quarter. First Trust Advisors LP now owns 2,710,405 shares of the company’s stock valued at $49,573,000 after purchasing an additional 522,947 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in APA by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after purchasing an additional 806,252 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its stake in APA by 7.5% during the third quarter. Kornitzer Capital Management Inc. KS now owns 1,873,041 shares of the company’s stock worth $45,477,000 after buying an additional 130,524 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

NASDAQ:APA opened at $27.92 on Monday. The stock has a market capitalization of $9.90 billion, a P/E ratio of 6.71, a price-to-earnings-growth ratio of 12.76 and a beta of 0.74. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. APA Corporation has a 1 year low of $13.58 and a 1 year high of $28.56. The firm has a 50 day moving average of $25.59 and a 200-day moving average of $23.92.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. APA’s payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APA. Royal Bank Of Canada increased their price objective on shares of APA from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Wolfe Research reissued an “outperform” rating and issued a $35.00 price target on shares of APA in a research report on Wednesday, January 21st. Zacks Research cut shares of APA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. William Blair started coverage on APA in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 price objective on the stock. Finally, Evercore dropped their target price on APA from $21.00 to $16.00 in a report on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.35.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.