Resona Asset Management Co. Ltd. Takes Position in APA Co. (NASDAQ:APA)

Resona Asset Management Co. Ltd. purchased a new position in APA Co. (NASDAQ:APA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 114,001 shares of the company’s stock, valued at approximately $2,617,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of APA by 0.6% in the 4th quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock valued at $1,780,000 after purchasing an additional 469 shares in the last quarter. TD Private Client Wealth LLC raised its stake in APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after buying an additional 540 shares in the last quarter. Asset Management One Co. Ltd. grew its position in shares of APA by 0.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock worth $3,070,000 after acquiring an additional 544 shares in the last quarter. Segment Wealth Management LLC increased its holdings in shares of APA by 1.1% in the 4th quarter. Segment Wealth Management LLC now owns 54,938 shares of the company’s stock valued at $1,269,000 after acquiring an additional 571 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in shares of APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after acquiring an additional 586 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

APA has been the subject of a number of research reports. Barclays decreased their price objective on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Wells Fargo & Company lowered their price objective on shares of APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Susquehanna dropped their price objective on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group restated a “sell” rating and issued a $23.00 target price on shares of APA in a research note on Wednesday, March 19th. Finally, Citigroup dropped their price target on APA from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, APA currently has a consensus rating of “Hold” and a consensus target price of $27.68.

APA Stock Up 19.1 %

APA stock opened at $16.71 on Thursday. The company’s 50-day moving average price is $20.37 and its two-hundred day moving average price is $22.41. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 2.36 and a beta of 2.74. APA Co. has a 52 week low of $13.58 and a 52 week high of $35.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

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

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date is Tuesday, April 22nd. APA’s payout ratio is 44.25%.

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.