AE Wealth Management LLC Buys 384,738 Shares of APA Corporation $APA

AE Wealth Management LLC lifted its stake in APA Corporation (NASDAQ:APA) by 2,049.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 403,511 shares of the company’s stock after purchasing an additional 384,738 shares during the period. AE Wealth Management LLC owned 0.11% of APA worth $9,797,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of APA. AQR Capital Management LLC lifted its holdings in 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 buying an additional 1,869,891 shares during the period. Evergreen Capital Management LLC raised its position in shares of APA by 7,627.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,013,516 shares of the company’s stock worth $24,608,000 after acquiring an additional 1,000,400 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of APA by 160.5% in the 3rd quarter. SG Americas Securities LLC now owns 336,277 shares of the company’s stock valued at $8,165,000 after purchasing an additional 892,438 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock valued at $56,092,000 after purchasing an additional 806,252 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of APA by 528.8% during the second quarter. Quantinno Capital Management LP now owns 681,588 shares of the company’s stock valued at $12,466,000 after purchasing an additional 573,193 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Up 0.6%

NASDAQ:APA opened at $26.41 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $9.37 billion, a P/E ratio of 6.35, a P/E/G ratio of 13.45 and a beta of 0.74. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $27.72. The firm has a 50-day simple moving average of $25.25 and a two-hundred day simple moving average of $23.29.

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

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Thursday, January 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. APA’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

A number of research firms have issued reports on APA. UBS Group increased their price objective on APA from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Raymond James Financial reiterated an “outperform” rating and issued a $31.00 price target on shares of APA in a research note on Monday, November 24th. William Blair started coverage on shares of APA in a research report on Wednesday, November 26th. They set an “outperform” rating and a $32.00 price target for the company. Johnson Rice upgraded shares of APA from a “hold” rating to an “accumulate” rating and upped their price objective for the stock from $35.00 to $40.00 in a report on Thursday, December 4th. Finally, The Goldman Sachs Group raised their target price on shares of APA from $21.00 to $23.00 and gave the company a “sell” rating in a research note on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, APA has a consensus rating of “Hold” and a consensus price target of $26.35.

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.