Estate Counselors LLC Makes New $2.37 Million Investment in APA Corporation $APA

Estate Counselors LLC bought a new stake in APA Corporation (NASDAQ:APAFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 55,887 shares of the company’s stock, valued at approximately $2,372,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in APA by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company’s stock worth $695,099,000 after purchasing an additional 1,055,016 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in APA by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,710,034 shares of the company’s stock worth $359,807,000 after purchasing an additional 285,542 shares during the period. Morgan Stanley increased its position in APA by 21.8% during the 4th quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after purchasing an additional 1,864,900 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of APA by 76.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock worth $175,426,000 after buying an additional 3,117,032 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of APA by 1,726.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after buying an additional 4,569,779 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other APA news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction dated 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 in the company, valued at $2,675,072.40. The trade was a 12.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on APA. Raymond James Financial decreased their price target on APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Susquehanna cut their price objective on APA from $47.00 to $45.00 and set a “positive” rating for the company in a research report on Tuesday, July 21st. Zacks Research downgraded APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. The Goldman Sachs Group reduced their target price on APA from $34.00 to $32.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. Finally, Barclays boosted their target price on shares of APA from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Eight analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.35.

View Our Latest Report on APA

APA Price Performance

APA stock opened at $34.74 on Tuesday. The stock’s 50 day moving average price is $35.45 and its 200 day moving average price is $34.06. The firm has a market cap of $12.28 billion, a P/E ratio of 8.10 and a beta of 0.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. APA Corporation has a 1 year low of $17.86 and a 1 year high of $45.66.

APA (NASDAQ:APAGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping 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 company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, sell-side analysts expect that APA Corporation will post 4.92 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. APA’s payout ratio is currently 23.31%.

APA Profile

(Free Report)

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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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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