SummerHaven Investment Management LLC Buys Shares of 41,594 APA Corporation $APA

SummerHaven Investment Management LLC purchased a new position in shares of APA Corporation (NASDAQ:APA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 41,594 shares of the company’s stock, valued at approximately $1,010,000.

Other hedge funds have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators boosted its position in APA by 276.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of APA by 144.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after buying an additional 1,104 shares during the last quarter. CVA Family Office LLC boosted its position in shares of APA by 6,096.7% in the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock worth $34,000 after buying an additional 1,829 shares in the last quarter. Spire Wealth Management grew its stake in APA by 179.6% in the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after acquiring an additional 977 shares during the last quarter. Finally, MAI Capital Management increased its holdings in APA by 76.5% during the 2nd quarter. MAI Capital Management now owns 2,134 shares of the company’s stock valued at $39,000 after acquiring an additional 925 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on APA shares. Jefferies Financial Group upped their price target on shares of APA from $21.00 to $22.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. Stephens increased their target price on APA from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Susquehanna boosted their price target on APA from $30.00 to $32.00 and gave the stock a “positive” rating in a report on Wednesday, November 12th. Mizuho upped their price objective on APA from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Friday, December 12th. Finally, BMO Capital Markets lifted their price objective on APA from $28.00 to $30.00 and gave the stock a “market perform” rating in a research report on Monday, October 13th. Six research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.35.

APA Price Performance

APA stock opened at $25.83 on Wednesday. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 6.21, a price-to-earnings-growth ratio of 12.10 and a beta of 0.74. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. APA Corporation has a 52-week low of $13.58 and a 52-week high of $27.72. The stock’s fifty day simple moving average is $25.10 and its 200-day simple moving average is $23.20.

APA (NASDAQ:APA) last released its earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.19. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. APA had a return on equity of 19.86% and a net margin of 15.49%.The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. Equities research analysts expect that APA Corporation will post 4.03 EPS for the current year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Thursday, January 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, January 22nd. APA’s payout ratio is presently 24.04%.

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.