Corient Private Wealth LLC lifted its holdings in shares of APA Corporation (NASDAQ:APA – Free Report) by 39.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 185,873 shares of the company’s stock after purchasing an additional 52,376 shares during the quarter. Corient Private Wealth LLC’s holdings in APA were worth $4,547,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC grew its holdings in shares of APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after purchasing an additional 710 shares in the last quarter. Camelot Portfolios LLC acquired a new position in APA in the fourth quarter valued at about $37,000. Community Bank N.A. acquired a new position in APA in the third quarter valued at about $43,000. Cary Street Partners Investment Advisory LLC bought a new stake in APA during the fourth quarter worth about $47,000. Finally, Virtus Advisers LLC bought a new stake in APA during the third quarter worth about $57,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have commented on APA shares. Bank of America raised their target price on shares of APA from $23.00 to $27.00 and gave the company an “underperform” rating in a report on Monday, March 16th. Jefferies Financial Group upped their price target on shares of APA from $26.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 13th. Wolfe Research increased their price target on shares of APA from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Evercore lifted their price objective on shares of APA from $25.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, March 24th. Finally, Mizuho boosted their price objective on shares of APA from $32.00 to $36.00 and gave the company an “underperform” rating in a research report on Wednesday, May 27th. Eight research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, APA presently has an average rating of “Hold” and a consensus target price of $41.08.
Insider Buying and Selling
In related news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the sale, the vice president owned 66,810 shares of the company’s stock, valued at $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.
APA Price Performance
Shares of NASDAQ APA opened at $33.01 on Friday. The company has a market capitalization of $11.67 billion, a PE ratio of 7.69 and a beta of 0.33. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. APA Corporation has a twelve month low of $17.86 and a twelve month high of $45.66. The firm has a fifty day simple moving average of $37.07 and a 200 day simple moving average of $32.62.
APA (NASDAQ:APA – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, sell-side analysts forecast that APA Corporation will post 5.6 EPS for the current year.
APA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. APA’s dividend payout ratio is presently 23.31%.
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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