NewEdge Advisors LLC Buys 34,252 Shares of APA Corporation $APA

NewEdge Advisors LLC raised its stake in APA Corporation (NASDAQ:APA) by 69.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 83,615 shares of the company’s stock after buying an additional 34,252 shares during the period. NewEdge Advisors LLC’s holdings in APA were worth $3,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its position in shares of APA by 1,726.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after buying an additional 4,569,779 shares during the period. Goldman Sachs Group Inc. raised its position in shares of APA by 76.9% in 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 boosted its stake in APA by 157.1% during the 2nd 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 last quarter. Morgan Stanley boosted its stake in APA by 21.8% during the 4th 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 last quarter. Finally, First Trust Advisors LP grew its holdings in APA by 55.0% during the first quarter. First Trust Advisors LP now owns 4,154,301 shares of the company’s stock valued at $176,309,000 after purchasing an additional 1,473,626 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA opened at $39.97 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. APA Corporation has a twelve month low of $19.96 and a twelve month high of $45.66. The firm’s 50 day moving average price is $35.28 and its two-hundred day moving average price is $35.06. The firm has a market cap of $14.00 billion, a P/E ratio of 8.45 and a beta of 0.35.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company earned $0.87 EPS. On average, analysts forecast that APA Corporation will post 5.16 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. APA’s dividend payout ratio is presently 21.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APA shares. JPMorgan Chase & Co. upped their target price on shares of APA from $38.00 to $41.00 in a research note on Friday, May 8th. Raymond James Financial reduced their price target on shares of APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. The Goldman Sachs Group decreased their price target on shares of APA from $34.00 to $32.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. Roth Capital set a $39.00 price objective on shares of APA in a research report on Thursday, August 6th. Finally, Truist Financial raised their price objective on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.30.

Insider Transactions at APA

In other APA news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the transaction, the vice president owned 66,810 shares in the company, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

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.