TD Asset Management Inc Boosts Stock Position in APA Corporation $APA

TD Asset Management Inc grew its stake in shares of APA Corporation (NASDAQ:APA) by 1.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 65,835 shares of the company’s stock after buying an additional 698 shares during the period. TD Asset Management Inc’s holdings in APA were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in APA. Dimensional Fund Advisors LP raised its position in shares of APA by 46.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock worth $190,876,000 after buying an additional 2,894,543 shares in the last quarter. Nuveen LLC purchased a new stake in shares of APA in the first quarter worth $22,533,000. Charles Schwab Investment Management Inc. raised its position in shares of APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock worth $292,871,000 after buying an additional 1,046,893 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of APA by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock worth $765,964,000 after buying an additional 1,029,961 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of APA in the first quarter worth $17,129,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on APA. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 price objective (up previously from $26.00) on shares of APA in a research report on Wednesday, September 10th. Wolfe Research increased their price objective on APA from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank Of Canada increased their price objective on APA from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Monday, October 13th. Piper Sandler increased their target price on APA from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Finally, UBS Group increased their target price on APA from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, APA has a consensus rating of “Hold” and an average target price of $24.74.

APA Stock Up 1.4%

Shares of NASDAQ:APA opened at $22.89 on Thursday. The stock’s 50-day moving average price is $23.03 and its 200-day moving average price is $19.69. APA Corporation has a 12-month low of $13.58 and a 12-month high of $25.83. The stock has a market capitalization of $8.19 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 6.40 and a beta of 1.16. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm earned $1.17 earnings per share. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, equities analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s dividend payout ratio (DPR) is 33.44%.

About APA

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.