Federated Hermes Inc. Raises Position in APA Co. (NASDAQ:APA)

Federated Hermes Inc. increased its holdings in APA Co. (NASDAQ:APA) by 1,042.2% in the second quarter, Holdings Channel.com reports. The firm owned 135,496 shares of the company’s stock after purchasing an additional 123,633 shares during the period. Federated Hermes Inc.’s holdings in APA were worth $3,989,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APA. American National Bank grew its holdings in APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after buying an additional 490 shares during the period. Covestor Ltd boosted its position in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the last quarter. Principal Securities Inc. purchased a new stake in APA in the fourth quarter valued at approximately $39,000. Whittier Trust Co. of Nevada Inc. increased its position in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in APA during the second quarter worth approximately $42,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Down 0.6 %

Shares of NASDAQ:APA opened at $25.11 on Thursday. 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 firm has a market cap of $9.32 billion, a PE ratio of 2.81 and a beta of 3.24. APA Co. has a 12-month low of $22.72 and a 12-month high of $43.58. The company has a fifty day simple moving average of $28.55 and a 200 day simple moving average of $30.19.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm’s revenue was up 41.6% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. On average, equities research analysts anticipate that APA Co. will post 4.34 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Evercore ISI restated an “in-line” rating and set a $39.00 price objective on shares of APA in a report on Thursday, September 12th. Sanford C. Bernstein cut their price objective on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Wolfe Research assumed coverage on APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price for the company. Truist Financial raised their price target on shares of APA from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.38.

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.