426,252 Shares in APA Corporation $APA Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of APA Corporation (NASDAQ:APA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 426,252 shares of the company’s stock, valued at approximately $17,707,000.

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

Wall Street Analysts Forecast Growth

APA has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “sell” rating and issued a $43.00 price target on shares of APA in a report on Monday, September 7th. Zacks Research raised shares of APA from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Roth Capital set a $39.00 target price on shares of APA in a research report on Thursday, August 6th. UBS Group upped their target price on shares of APA from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 12th. Finally, Benchmark increased their target price on shares of APA from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.76.

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

APA Stock Performance

NASDAQ:APA opened at $47.77 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $45.76 and a two-hundred day moving average price of $37.80. APA Corporation has a twelve month low of $21.63 and a twelve month high of $52.96. The company has a market capitalization of $16.74 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.76 and a beta of 0.29.

APA (NASDAQ:APA) last announced its 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 return on equity of 24.84% and a net margin of 19.48%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, research analysts expect that APA Corporation will post 6.46 earnings per share for the current fiscal year.

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

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. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, October 22nd. APA’s payout ratio is currently 21.14%.

About APA

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.