APA Corporation $APA Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in shares of APA Corporation (NASDAQ:APA) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 430,224 shares of the company’s stock after purchasing an additional 16,874 shares during the quarter. OLD National Bancorp IN’s holdings in APA were worth $18,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC boosted its holdings in APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after buying an additional 710 shares in the last quarter. Camelot Portfolios LLC purchased a new position in APA in the fourth quarter valued at about $37,000. Community Bank N.A. purchased a new position in APA in the third quarter valued at about $43,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of APA during the 4th quarter valued at approximately $47,000. Finally, Virtus Advisers LLC acquired a new stake in shares of APA during the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on APA. Benchmark upped their price target on APA from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Barclays lifted their price objective on APA from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Truist Financial boosted their target price on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 20th. Raymond James Financial upped their target price on APA from $45.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Finally, Jefferies Financial Group raised their price target on APA from $26.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, April 13th. Eight analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.08.

Insider Buying and Selling at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares of the company’s stock, valued at $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

APA Stock Up 0.3%

APA stock opened at $33.42 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50 day simple moving average is $37.14 and its 200-day simple moving average is $32.62. APA Corporation has a 12 month low of $17.86 and a 12 month high of $45.66. The firm has a market capitalization of $11.81 billion, a PE ratio of 7.79 and a beta of 0.33.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $1.06 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities analysts expect that APA Corporation will post 5.6 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 3.0%. APA’s dividend payout ratio (DPR) is presently 23.31%.

APA 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.