Gallacher Capital Management LLC bought a new stake in APA Corporation (NASDAQ:APA – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,624 shares of the company’s stock, valued at approximately $1,385,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in APA by 76.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after acquiring an additional 3,117,032 shares during the period. AQR Capital Management LLC increased its stake in shares of APA by 157.1% in the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after acquiring an additional 1,869,891 shares during the period. Morgan Stanley increased its stake in shares of APA by 21.8% in the fourth quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after acquiring an additional 1,864,900 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of APA by 9.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,321,936 shares of the company’s stock worth $374,786,000 after purchasing an additional 1,291,706 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of APA by 29.6% during the third quarter. Northern Trust Corp now owns 4,462,476 shares of the company’s stock worth $108,349,000 after purchasing an additional 1,018,326 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.
Insider Transactions at APA
In other APA news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the transaction, the vice president directly 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 accessible through this hyperlink. 0.73% of the stock is currently owned by insiders.
APA Trading Up 0.0%
APA (NASDAQ:APA – Get Free Report) last announced 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 firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s revenue was down 11.7% on a year-over-year basis. On average, equities research analysts expect that APA Corporation will post 4.98 EPS for the current fiscal year.
APA Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders 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 dividend on an annualized basis and a yield of 2.9%. APA’s dividend payout ratio is currently 23.31%.
Analysts Set New Price Targets
Several research firms have commented on APA. Evercore upped their price target on shares of APA from $25.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, March 24th. Wall Street Zen cut APA from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. UBS Group dropped their target price on APA from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup boosted their price target on APA from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada lifted their target price on shares of APA from $29.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, APA has a consensus rating of “Hold” and a consensus target price of $40.42.
Get Our Latest Analysis on APA
APA 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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