APA Co. (NASDAQ:APA) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of APA Co. (NASDAQ:APA) by 2.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 76,174 shares of the company’s stock after buying an additional 1,797 shares during the quarter. PNC Financial Services Group Inc.’s holdings in APA were worth $1,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Harris Associates L P increased its holdings in shares of APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after acquiring an additional 4,293,932 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in APA by 12.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after purchasing an additional 3,411,270 shares in the last quarter. Mizuho Securities USA LLC increased its stake in APA by 3,450.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock valued at $24,115,000 after purchasing an additional 958,141 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of APA by 29.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock worth $94,500,000 after buying an additional 929,770 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of APA by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock valued at $297,540,000 after buying an additional 894,574 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on APA shares. Piper Sandler reduced their target price on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. UBS Group decreased their target price on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, December 9th. The Goldman Sachs Group cut their price target on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, January 3rd. Susquehanna decreased their price objective on shares of APA from $33.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, March 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of APA in a research note on Thursday, January 23rd. Four 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.90.

APA Trading Up 3.0 %

Shares of APA stock opened at $19.61 on Friday. The stock has a 50 day simple moving average of $22.29 and a 200-day simple moving average of $23.33. APA Co. has a 1-year low of $17.66 and a 1-year high of $36.05. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 2.77 and a beta of 3.26. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

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

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s payout ratio is 44.25%.

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.