US Bancorp DE Grows Stake in APA Co. (NASDAQ:APA) (2024)

US Bancorp DE grew its position in shares of APA Co. (NASDAQ:APA – Free Report) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,672 shares of the company’s stock after buying an additional 663 shares during the period. US Bancorp DE’s holdings in APA were worth $1,495,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APA. Annis Gardner Whiting Capital Advisors LLC bought a new position in APA during the third quarter worth $34,000. Quent Capital LLC raised its holdings in shares of APA by 64.0% during the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after purchasing an additional 375 shares during the period. Rakuten Securities Inc. acquired a new position in shares of APA in the 4th quarter valued at about $34,000. Principal Securities Inc. acquired a new position in shares of APA in the 4th quarter valued at about $39,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of APA during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

NASDAQ:APA opened at $30.53 on Friday. The company has a 50-day moving average of $32.02 and a 200-day moving average of $32.75. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 3.41 and a beta of 3.29. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. APA Co. has a twelve month low of $28.73 and a twelve month high of $46.15.

APA (NASDAQ:APA – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts forecast that APA Co. will post 4.58 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s dividend payout ratio is 11.19%.

Wall Street Analyst Weigh In

APA has been the subject of a number of research reports. Piper Sandler decreased their target price on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price objective on shares of APA in a research report on Monday, April 8th. Roth Mkm increased their target price on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company reduced their price target on shares of APA from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, May 22nd. Finally, Mizuho increased their price objective on shares of APA from $34.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, May 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.90.

Check Out Our Latest Analysis on APA

About APA

(Free Report)

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.

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