OLD National Bancorp IN Buys 82,545 Shares of APA Co. (NASDAQ:APA)

OLD National Bancorp IN grew its stake in APA Co. (NASDAQ:APA) by 64.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 210,230 shares of the company’s stock after buying an additional 82,545 shares during the period. OLD National Bancorp IN’s holdings in APA were worth $5,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Resonant Capital Advisors LLC increased its holdings in APA by 32.4% in the third quarter. Resonant Capital Advisors LLC now owns 12,114 shares of the company’s stock worth $296,000 after purchasing an additional 2,964 shares in the last quarter. Blue Trust Inc. increased its stake in shares of APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after acquiring an additional 1,604 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of APA by 32.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 10,173 shares of the company’s stock valued at $249,000 after acquiring an additional 2,470 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in APA by 2.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,644 shares of the company’s stock worth $847,000 after acquiring an additional 952 shares in the last quarter. Finally, nVerses Capital LLC boosted its stake in APA by 67.7% during the third quarter. nVerses Capital LLC now owns 27,500 shares of the company’s stock worth $673,000 after acquiring an additional 11,100 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Up 1.0 %

APA stock opened at $25.16 on Monday. The stock has a market cap of $9.34 billion, a P/E ratio of 2.81 and a beta of 3.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock’s fifty day simple moving average is $26.43 and its two-hundred day simple moving average is $29.02. APA Co. has a 1-year low of $22.72 and a 1-year high of $43.58.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 41.6% on a year-over-year basis. Analysts expect that APA Co. will post 3.97 EPS for the current year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio is currently 11.19%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on APA shares. Wolfe Research assumed coverage on shares of APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 price objective on the stock. UBS Group cut their price target on APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Bernstein Bank reduced their price objective on APA from $30.00 to $28.00 in a research note on Friday. Mizuho lowered their target price on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler reduced their price target on shares of APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, APA currently has a consensus rating of “Hold” and a consensus target price of $34.18.

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.