KLP Kapitalforvaltning AS Invests $6.47 Million in APA Co. (NASDAQ:APA)

KLP Kapitalforvaltning AS purchased a new position in APA Co. (NASDAQ:APA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 280,000 shares of the company’s stock, valued at approximately $6,465,000. KLP Kapitalforvaltning AS owned approximately 0.08% of APA at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Harris Associates L P lifted its stake in APA by 20.8% in the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of APA by 12.6% in the third 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 during the last quarter. Bank of New York Mellon Corp lifted its position in APA by 29.4% during 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in APA by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock worth $297,540,000 after buying an additional 894,574 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in APA in the 4th quarter valued at $14,524,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Up 0.2 %

Shares of NASDAQ APA opened at $20.89 on Wednesday. The stock has a market cap of $7.61 billion, a P/E ratio of 2.95 and a beta of 3.26. The business’s fifty day simple moving average is $21.82 and its 200-day simple moving average is $22.97. APA Co. has a 12-month low of $17.66 and a 12-month high of $36.05. 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 posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. As a group, equities analysts predict 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. Shareholders of record on Tuesday, April 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio is presently 44.25%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. UBS Group decreased their target price on shares of APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price target on shares of APA in a report on Thursday, January 23rd. Piper Sandler decreased their price objective on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Finally, Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $45.00 to $32.00 in a research note on Monday, March 10th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.60.

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.