Evergreen Capital Management LLC Acquires 1,000,400 Shares of APA Corporation $APA

Evergreen Capital Management LLC boosted its holdings in APA Corporation (NASDAQ:APA) by 7,627.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,013,516 shares of the company’s stock after buying an additional 1,000,400 shares during the period. Evergreen Capital Management LLC owned approximately 0.28% of APA worth $24,608,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in APA by 2.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 14,208,961 shares of the company’s stock worth $259,882,000 after acquiring an additional 275,981 shares during the period. AQR Capital Management LLC raised its position in shares of APA by 157.1% during the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after buying an additional 1,869,891 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of APA by 23.9% in the second quarter. First Trust Advisors LP now owns 2,710,405 shares of the company’s stock valued at $49,573,000 after buying an additional 522,947 shares during the period. Goldman Sachs Group Inc. grew its position in APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after buying an additional 806,252 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in APA by 34.8% during the second quarter. JPMorgan Chase & Co. now owns 1,864,340 shares of the company’s stock valued at $34,099,000 after acquiring an additional 481,420 shares during the period. 83.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on APA shares. Mizuho lifted their price objective on APA from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Friday, December 12th. The Goldman Sachs Group lifted their price target on shares of APA from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, November 20th. Piper Sandler increased their price objective on shares of APA from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Susquehanna raised their price objective on shares of APA from $30.00 to $32.00 and gave the stock a “positive” rating in a report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, APA has a consensus rating of “Hold” and an average price target of $26.59.

APA Trading Down 0.9%

Shares of APA stock opened at $25.78 on Friday. APA Corporation has a 12-month low of $13.58 and a 12-month high of $27.72. The stock has a market capitalization of $9.14 billion, a P/E ratio of 6.20, a price-to-earnings-growth ratio of 10.72 and a beta of 0.74. The company has a 50-day simple moving average of $24.93 and a 200 day simple moving average of $22.86. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.19. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. APA had a net margin of 15.49% and a return on equity of 19.86%. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. Research analysts expect that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Thursday, January 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, January 22nd. APA’s dividend payout ratio (DPR) is currently 24.04%.

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.