Brookstone Capital Management grew its stake in APA Co. (NASDAQ:APA – Get Rating) by 25.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,830 shares of the company’s stock after purchasing an additional 14,921 shares during the period. Brookstone Capital Management’s holdings in APA were worth $3,032,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CVA Family Office LLC acquired a new stake in shares of APA during the 4th quarter valued at about $30,000. Ahrens Investment Partners LLC acquired a new stake in shares of APA during the 4th quarter valued at about $35,000. First Mercantile Trust Co. acquired a new stake in shares of APA during the 3rd quarter valued at about $31,000. Outfitter Financial LLC acquired a new stake in shares of APA during the 4th quarter valued at about $48,000. Finally, CWM LLC acquired a new stake in shares of APA during the 4th quarter valued at about $72,000. Institutional investors own 84.08% of the company’s stock.
Several analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of APA from $42.00 to $52.00 in a research report on Monday, April 25th. Stifel Nicolaus lifted their price target on shares of APA from $51.00 to $59.00 and gave the company a “buy” rating in a report on Friday, May 6th. Susquehanna Bancshares lifted their price target on shares of APA from $42.00 to $52.00 in a report on Monday, April 25th. MKM Partners lifted their price target on shares of APA from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, February 23rd. Finally, Truist Financial lifted their price target on shares of APA from $55.00 to $65.00 in a report on Thursday, April 21st. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, APA has an average rating of “Moderate Buy” and a consensus price target of $50.16.
APA (NASDAQ:APA – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.44 billion. APA had a net margin of 30.21% and a return on equity of 11,632.79%. APA’s revenue for the quarter was up 42.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, equities research analysts forecast that APA Co. will post 10.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Investors of record on Friday, July 22nd will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, July 21st. APA’s dividend payout ratio (DPR) is 7.14%.
In related news, insider P Anthony Lannie sold 86,750 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $41.26, for a total transaction of $3,579,305.00. Following the completion of the sale, the insider now directly owns 58,844 shares of the company’s stock, valued at $2,427,903.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.88% of the company’s stock.
APA Company Profile (Get Rating)
APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.
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