Harvest Portfolios Group Inc. Has $1.68 Million Position in APA Corporation $APA

Harvest Portfolios Group Inc. grew its stake in APA Corporation (NASDAQ:APA) by 19.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,622 shares of the company’s stock after purchasing an additional 15,001 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in APA were worth $1,676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Savant Capital LLC raised its holdings in APA by 146.5% in the 2nd quarter. Savant Capital LLC now owns 26,749 shares of the company’s stock valued at $489,000 after acquiring an additional 15,898 shares during the period. Malaga Cove Capital LLC grew its position in shares of APA by 20.5% in the second quarter. Malaga Cove Capital LLC now owns 68,927 shares of the company’s stock valued at $1,261,000 after purchasing an additional 11,732 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in shares of APA by 25.9% during the second quarter. Resona Asset Management Co. Ltd. now owns 4,230 shares of the company’s stock worth $79,000 after purchasing an additional 871 shares during the period. Moors & Cabot Inc. increased its stake in shares of APA by 10.1% during the second quarter. Moors & Cabot Inc. now owns 32,632 shares of the company’s stock worth $597,000 after purchasing an additional 2,999 shares during the period. Finally, Huntington National Bank lifted its holdings in APA by 31.7% during the 2nd quarter. Huntington National Bank now owns 8,391 shares of the company’s stock worth $153,000 after purchasing an additional 2,022 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Price Performance

APA stock opened at $23.83 on Friday. The company’s 50-day moving average price is $23.39 and its two-hundred day moving average price is $20.36. The firm has a market cap of $8.53 billion, a P/E ratio of 7.97, a P/E/G ratio of 6.28 and a beta of 1.12. 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 Corporation has a 12 month low of $13.58 and a 12 month high of $25.83.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 EPS. On average, analysts anticipate that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s dividend payout ratio (DPR) is currently 33.44%.

Wall Street Analysts Forecast Growth

APA has been the topic of a number of research reports. Wolfe Research upped their price objective on APA from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 20th. BMO Capital Markets upped their price target on shares of APA from $28.00 to $30.00 and gave the company a “market perform” rating in a research note on Monday, October 13th. Wells Fargo & Company raised their price target on shares of APA from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Cowen reissued a “hold” rating on shares of APA in a report on Thursday, August 7th. Finally, Roth Capital increased their target price on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.11.

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.