Gotham Asset Management LLC lifted its holdings in shares of APA Corporation (NASDAQ:APA – Free Report) by 45.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,289,986 shares of the company’s stock after buying an additional 711,266 shares during the quarter. Gotham Asset Management LLC owned about 0.65% of APA worth $56,013,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Element Capital Management LLC acquired a new position in APA during the fourth quarter valued at approximately $1,007,000. Evolve Private Wealth LLC acquired a new stake in APA in the fourth quarter worth $849,000. Engineers Gate Manager LP bought a new position in shares of APA during the fourth quarter worth $865,000. Abel Hall LLC boosted its position in shares of APA by 8.5% during the fourth quarter. Abel Hall LLC now owns 33,620 shares of the company’s stock worth $822,000 after purchasing an additional 2,621 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of APA by 65.1% in the 4th quarter. Cetera Investment Advisers now owns 163,341 shares of the company’s stock valued at $3,995,000 after buying an additional 64,433 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently commented on APA. Barclays upped their price objective on shares of APA from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. Bank of America boosted their target price on APA from $23.00 to $27.00 and gave the company an “underperform” rating in a research note on Monday, March 16th. Evercore increased their price target on APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, March 24th. Mizuho raised their price target on APA from $32.00 to $36.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 27th. Finally, Susquehanna boosted their price objective on APA from $37.00 to $47.00 and gave the company a “positive” rating in a research report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.04.
APA Trading Down 1.0%
APA stock opened at $33.93 on Thursday. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 7.91 and a beta of 0.33. The firm has a 50-day moving average of $37.84 and a 200-day moving average of $32.30. 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 one year low of $17.74 and a one year high of $45.66.
APA (NASDAQ:APA – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. APA’s quarterly revenue was down 11.7% on a year-over-year basis. On average, equities analysts expect that APA Corporation will post 5.59 earnings per share for the current fiscal year.
APA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. APA’s dividend payout ratio is currently 23.31%.
Insider Activity
In other news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the sale, the vice president owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by corporate insiders.
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.
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