Krane Funds Advisors LLC Invests $506,000 in APA Corporation $APA

Krane Funds Advisors LLC bought a new position in APA Corporation (NASDAQ:APA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 22,252 shares of the company’s stock, valued at approximately $506,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators increased its holdings in shares of APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after buying an additional 891 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of APA by 6,096.7% during the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock worth $34,000 after acquiring an additional 1,829 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of APA in the 3rd quarter worth $34,000. Spire Wealth Management raised its position in shares of APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after purchasing an additional 977 shares during the period. Finally, MAI Capital Management lifted its holdings in shares of APA by 76.5% during the second quarter. MAI Capital Management now owns 2,134 shares of the company’s stock valued at $39,000 after purchasing an additional 925 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

Shares of APA opened at $28.72 on Tuesday. The company has a market capitalization of $10.19 billion, a PE ratio of 6.90, a PEG ratio of 13.28 and a beta of 0.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.78. The company’s 50 day moving average price is $25.89 and its 200 day moving average price is $24.34. APA Corporation has a 52 week low of $13.58 and a 52 week high of $30.08.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. APA’s dividend payout ratio is 24.04%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APA shares. Wolfe Research reiterated an “outperform” rating and issued a $35.00 price target on shares of APA in a research report on Wednesday, January 21st. Stephens raised their target price on shares of APA from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 17th. Capital One Financial dropped their target price on shares of APA from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. Susquehanna upped their price target on shares of APA from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Wednesday, November 12th. Finally, TD Cowen raised shares of APA to a “hold” rating in a research note on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.39.

About APA

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.