Oxbow Advisors LLC Buys New Stake in APA Corporation $APA

Oxbow Advisors LLC purchased a new position in APA Corporation (NASDAQ:APA) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 430,639 shares of the company’s stock, valued at approximately $7,876,000. APA accounts for about 0.9% of Oxbow Advisors LLC’s holdings, making the stock its 26th largest position.

A number of other hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC grew its stake in shares of APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock worth $30,000 after buying an additional 1,382 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock valued at $32,000 after acquiring an additional 1,288 shares during the last quarter. TD Private Client Wealth LLC grew its position in APA by 144.9% in the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after acquiring an additional 1,104 shares in the last quarter. SVB Wealth LLC bought a new stake in APA during the first quarter worth approximately $55,000. Finally, Toth Financial Advisory Corp purchased a new stake in APA during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

APA stock opened at $23.00 on Friday. APA Corporation has a twelve month low of $13.58 and a twelve month high of $25.83. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 6.70 and a beta of 1.16. The business’s fifty day simple moving average is $22.84 and its two-hundred day simple moving average is $19.58. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business’s revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 earnings per share. Analysts predict that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. APA’s dividend payout ratio (DPR) is 33.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APA. Stephens started coverage on APA in a report on Tuesday, August 5th. They issued an “equal weight” rating and a $24.00 target price for the company. Wells Fargo & Company raised their price target on APA from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. The Goldman Sachs Group upgraded shares of APA from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Roth Capital increased their target price on shares of APA from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, UBS Group raised their target price on shares of APA from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.26.

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.