APA Corporation $APA Stock: Vise Technologies Inc. Boosts Holdings

Vise Technologies Inc. raised its position in shares of APA Corporation (NASDAQ:APA) by 76.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,543 shares of the company’s stock after buying an additional 40,006 shares during the quarter. Vise Technologies Inc.’s holdings in APA were worth $3,844,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Hollencrest Capital Management boosted its holdings in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new stake in shares of APA during the first quarter valued at approximately $28,000. MidFirst Bank acquired a new stake in shares of APA during the second quarter valued at approximately $33,000. Compass Financial Management LLC acquired a new stake in shares of APA during the second 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 owned by hedge funds and other institutional investors.

More APA News

Here are the key news stories impacting APA this week:

• Positive Sentiment: APA was named among four stocks that may combine attractive valuations with sustainable earnings growth, which could support investor interest in the shares. 4 GARP Stocks to Buy Now as Volatility Fuels Value vs. Growth Debate
• Positive Sentiment: Wall Street analysts are characterized as moderately optimistic after APA significantly outperformed the broader market over the past year. A separate article notes the stock recently reached a 52-week high, though it does not establish how much further it may rise. Are Wall Street Analysts Predicting APA Corporation Stock Will Climb or Sink? APA Corporation Hits Fresh High: Is There Still Room to Run?
• Neutral Sentiment: APA is scheduled to report earnings Wednesday, and analysts are previewing estimates for key Q3 metrics. These are previews, not reported results, so the earnings release remains a potential catalyst and source of uncertainty. APA Set to Post Earnings on Wednesday What Analyst Projections for Key Metrics Reveal About APA Q3 Earnings

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Zacks Research raised shares of APA from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Morgan Stanley lifted their price objective on shares of APA from $41.00 to $43.00 and gave the stock an “underweight” rating in a research report on Thursday, October 15th. Citigroup boosted their target price on shares of APA from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. UBS Group increased their target price on APA from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 12th. Finally, Truist Financial raised their target price on APA from $44.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.76.

APA Trading Down 2.2%

NASDAQ:APA opened at $47.77 on Wednesday. The stock has a market cap of $16.74 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.76 and a beta of 0.29. APA Corporation has a fifty-two week low of $21.63 and a fifty-two week high of $52.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50-day moving average is $45.76 and its two-hundred day moving average is $37.80.

APA (NASDAQ:APA) last posted 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). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%. During the same period last year, the company earned $0.87 earnings per share. As a group, equities research analysts forecast that APA Corporation will post 6.46 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, October 22nd will be given a dividend of $0.25 per share. 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 2.1%. APA’s payout ratio is presently 21.14%.

APA announced that its board has initiated a share repurchase program on Wednesday, September 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its shares are undervalued.

APA Company 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.