Hillsdale Investment Management Inc. Acquires Shares of 44,050 APA Corporation $APA

Hillsdale Investment Management Inc. acquired a new stake in shares of APA Corporation (NASDAQ:APA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,050 shares of the company’s stock, valued at approximately $1,070,000.

A number of other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of APA by 869.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock valued at $4,872,000 after buying an additional 174,369 shares during the period. Prudential Financial Inc. lifted its stake in APA by 38.8% in the second quarter. Prudential Financial Inc. now owns 284,275 shares of the company’s stock worth $5,199,000 after acquiring an additional 79,451 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in APA in the third quarter valued at $2,337,000. AE Wealth Management LLC increased its position in APA by 2,049.4% during the 3rd quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock valued at $9,797,000 after purchasing an additional 384,738 shares during the period. Finally, Schroder Investment Management Group raised its holdings in APA by 22.0% in the 2nd quarter. Schroder Investment Management Group now owns 914,667 shares of the company’s stock worth $16,729,000 after purchasing an additional 165,006 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APA shares. William Blair assumed coverage on shares of APA in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 target price for the company. Wolfe Research restated an “outperform” rating and issued a $35.00 price objective on shares of APA in a report on Wednesday, January 21st. Evercore reduced their target price on APA from $21.00 to $16.00 in a report on Tuesday, November 4th. Susquehanna raised their target price on APA from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Wednesday, November 12th. Finally, Raymond James Financial restated an “outperform” rating and set a $31.00 price target on shares of APA in a research report on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.39.

APA Trading Down 1.2%

NASDAQ APA opened at $28.72 on Tuesday. APA Corporation has a 12 month low of $13.58 and a 12 month high of $30.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $25.89 and its 200-day moving average price is $24.34. The stock has a market cap of $10.19 billion, a P/E ratio of 6.90, a P/E/G ratio of 13.28 and a beta of 0.74.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. APA’s dividend payout ratio is presently 24.04%.

About APA

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.