Rahlfs Capital LLC boosted its holdings in APA Corporation (NASDAQ:APA – Free Report) by 21.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,120 shares of the company’s stock after acquiring an additional 12,420 shares during the quarter. APA accounts for about 1.7% of Rahlfs Capital LLC’s investment portfolio, making the stock its 13th biggest position. Rahlfs Capital LLC’s holdings in APA were worth $2,954,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in APA. Fifth Third Wealth Advisors LLC acquired a new stake in APA during the third quarter valued at approximately $337,000. Credit Capital Investments LLC bought a new stake in shares of APA in the 3rd quarter valued at approximately $208,000. Brookstone Capital Management bought a new stake in shares of APA in the 3rd quarter valued at approximately $201,000. Lmcg Investments LLC bought a new stake in shares of APA in the 3rd quarter valued at approximately $206,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of APA in the 3rd quarter worth approximately $539,000. Institutional investors own 83.01% of the company’s stock.
Wall Street Analysts Forecast Growth
APA has been the subject of several analyst reports. Wells Fargo & Company raised their target price on APA from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 14th. Stephens reaffirmed an “equal weight” rating and issued a $49.00 price target on shares of APA in a research note on Friday, October 9th. Scotiabank began coverage on APA in a research report on Wednesday, October 14th. They issued a “sector perform” rating and a $44.00 price target on the stock. Raymond James Financial increased their price objective on APA from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Finally, Citigroup increased their price objective on APA from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, APA has an average rating of “Hold” and a consensus target price of $44.76.
Check Out Our Latest Report on APA
APA Price Performance
NASDAQ:APA traded up $2.46 on Friday, reaching $51.90. The stock had a trading volume of 7,066,909 shares, compared to its average volume of 5,243,228. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $18.18 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.42. APA Corporation has a 1-year low of $21.63 and a 1-year high of $52.39. The stock has a fifty day moving average price of $44.69 and a 200-day moving average price of $39.51.
APA (NASDAQ:APA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%. During the same period in the previous year, the business posted $0.87 EPS. Research analysts forecast that APA Corporation will post 6.10 EPS for the current year.
APA announced that its board has authorized a share buyback plan on Wednesday, September 16th that allows the company to repurchase 40,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Share buyback plans are usually an indication that the company’s board believes its stock is undervalued.
APA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, October 22nd. APA’s payout ratio is presently 21.14%.
APA Company Profile
APA Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company’s activities include identifying hydrocarbon resources, drilling and completing wells, operating producing properties, and managing related infrastructure.
APA’s principal producing areas include the Permian Basin in the United States and Egypt’s Western Desert, where it operates through joint ventures with the Egyptian General Petroleum Corporation.
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