171,636 Shares of APA Corporation $APA Bought by One Way Holdings LLC

One Way Holdings LLC acquired a new stake in APA Corporation (NASDAQ:APA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 171,636 shares of the company’s stock, valued at approximately $7,130,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APA. Hollencrest Capital Management raised its stake in APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new position in APA in the 1st quarter valued at about $28,000. MidFirst Bank purchased a new stake in shares of APA in the 2nd quarter valued at approximately $33,000. Compass Financial Management LLC purchased a new stake in shares of APA in the 2nd quarter valued at approximately $33,000. Finally, Gables Capital Management Inc. purchased a new stake in shares of APA in the 2nd quarter valued at approximately $36,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APA. UBS Group raised their price target on shares of APA from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 12th. Zacks Research upgraded APA from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Seaport Research Partners assumed coverage on APA in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. KeyCorp set a $46.00 price objective on APA in a research report on Wednesday, August 12th. Finally, Raymond James Financial raised their target price on APA from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $44.76.

APA Price Performance

Shares of APA opened at $52.82 on Monday. APA Corporation has a 1-year low of $21.63 and a 1-year high of $52.96. The stock has a market cap of $18.51 billion, a PE ratio of 11.17, a P/E/G ratio of 0.82 and a beta of 0.42. The firm has a 50-day simple moving average of $45.55 and a two-hundred day simple moving average of $37.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm posted $0.87 earnings per share. As a group, analysts forecast that APA Corporation will post 6.46 EPS for the current year.

APA declared that its board has approved a stock repurchase program on Wednesday, September 16th that permits the company to repurchase 40,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, October 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. APA’s payout ratio is presently 21.14%.

APA 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.