Indiana Trust & Investment Management Co Invests $701,000 in APA Corporation $APA

Indiana Trust & Investment Management Co purchased a new position in shares of APA Corporation (NASDAQ:APA) during the 1st quarter, Holdings Channel.com reports. The firm purchased 16,510 shares of the company’s stock, valued at approximately $701,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in APA by 76.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after purchasing an additional 3,117,032 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of APA by 157.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after purchasing an additional 1,869,891 shares in the last quarter. Morgan Stanley boosted its holdings in shares of APA by 21.8% in the 4th quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock valued at $255,010,000 after purchasing an additional 1,864,900 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of APA by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,321,936 shares of the company’s stock valued at $374,786,000 after purchasing an additional 1,291,706 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of APA by 29.6% in the 3rd quarter. Northern Trust Corp now owns 4,462,476 shares of the company’s stock valued at $108,349,000 after purchasing an additional 1,018,326 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

APA Stock Performance

APA opened at $32.36 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. APA Corporation has a fifty-two week low of $17.86 and a fifty-two week high of $45.66. The company’s 50 day moving average price is $36.61 and its two-hundred day moving average price is $32.89. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 7.54 and a beta of 0.35.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.27. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, research analysts predict that APA Corporation will post 5.35 earnings per share for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio (DPR) is currently 23.31%.

Analyst Ratings Changes

Several brokerages recently weighed in on APA. Wall Street Zen downgraded APA from a “buy” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets decreased their target price on APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 13th. Wolfe Research boosted their target price on APA from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Zacks Research cut shares of APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley dropped their target price on shares of APA from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, June 26th. Eight analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.88.

Insider Buying and Selling

In other APA news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the transaction, the vice president directly owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.