Allstate Corp Invests $235,000 in APA Co. (NASDAQ:APA)

Allstate Corp acquired a new stake in APA Co. (NASDAQ:APA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,156 shares of the company’s stock, valued at approximately $235,000.

A number of other large investors have also added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its position in APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after acquiring an additional 1,077 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares during the period. Riverview Trust Co grew its stake in shares of APA by 5,718.2% in the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in APA by 77.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after purchasing an additional 586 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in APA during the 4th quarter worth $35,000. Institutional investors own 83.01% of the company’s stock.

APA Stock Up 0.5 %

Shares of NASDAQ APA opened at $21.24 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50-day moving average price of $21.42 and a 200-day moving average price of $22.85. The stock has a market capitalization of $7.73 billion, a P/E ratio of 3.00 and a beta of 2.73. APA Co. has a 1 year low of $17.66 and a 1 year high of $36.05.

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

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.71%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is presently 44.25%.

Analyst Upgrades and Downgrades

APA has been the topic of a number of analyst reports. Barclays reduced their price target on APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Piper Sandler decreased their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. The Goldman Sachs Group restated a “sell” rating and issued a $23.00 price target on shares of APA in a research report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their target price on shares of APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Susquehanna dropped their target price on shares of APA from $33.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, March 3rd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, APA has an average rating of “Hold” and an average price target of $27.68.

APA Company 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.