APA Co. (NASDAQ:APA – Get Rating) announced a quarterly dividend on Thursday, May 12th, RTT News reports. Shareholders of record on Friday, July 22nd will be paid a dividend of 0.125 per share on Monday, August 22nd. This represents a $0.50 annualized dividend and a yield of 1.31%.
APA has a dividend payout ratio of 5.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect APA to earn $10.18 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 4.9%.
Shares of NASDAQ APA traded down $0.27 during midday trading on Thursday, reaching $38.03. 10,291,018 shares of the stock traded hands, compared to its average volume of 9,800,638. The stock has a market capitalization of $12.86 billion, a PE ratio of 5.39, a P/E/G ratio of 0.16 and a beta of 4.13. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.23 and a quick ratio of 1.12. APA has a one year low of $15.55 and a one year high of $45.27. The company’s 50 day moving average is $40.78 and its 200 day moving average is $33.56.
APA has been the subject of a number of research analyst reports. Raymond James raised their price target on shares of APA from $59.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Monday, April 25th. Piper Sandler lifted their price target on APA from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, April 7th. Truist Financial raised their target price on shares of APA from $55.00 to $65.00 in a report on Thursday, April 21st. Barclays increased their price target on shares of APA from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. Finally, KeyCorp raised their price target on shares of APA from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, April 4th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, APA currently has an average rating of “Buy” and an average target price of $46.55.
In other news, insider P Anthony Lannie sold 40,800 shares of APA stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $39.90, for a total value of $1,627,920.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Chansoo Joung purchased 40,000 shares of APA stock in a transaction that occurred on Friday, February 25th. The shares were bought at an average price of $32.92 per share, for a total transaction of $1,316,800.00. The disclosure for this purchase can be found here. 1.05% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC boosted its stake in APA by 14.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 22,903 shares of the company’s stock valued at $616,000 after purchasing an additional 2,850 shares during the period. Acadian Asset Management LLC bought a new position in shares of APA during the first quarter valued at about $145,000. Metropolitan Life Insurance Co NY lifted its position in APA by 11.2% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 41,087 shares of the company’s stock valued at $1,105,000 after purchasing an additional 4,147 shares during the last quarter. Legal & General Group Plc increased its position in APA by 1.2% during the 4th quarter. Legal & General Group Plc now owns 526,614 shares of the company’s stock valued at $14,161,000 after purchasing an additional 6,030 shares during the period. Finally, Cetera Advisor Networks LLC bought a new position in APA during the 1st quarter valued at about $295,000. 84.08% of the stock is owned by hedge funds and other institutional investors.
About APA (Get Rating)
APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.
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