NuWave Investment Management LLC Makes New Investment in APA Co. (NASDAQ:APA)

NuWave Investment Management LLC purchased a new position in APA Co. (NASDAQ:APAGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,894 shares of the company’s stock, valued at approximately $78,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CHURCHILL MANAGEMENT Corp acquired a new position in shares of APA in the first quarter valued at about $12,635,000. Brookstone Capital Management increased its holdings in APA by 25.3% in the 1st quarter. Brookstone Capital Management now owns 73,830 shares of the company’s stock worth $3,032,000 after buying an additional 14,921 shares during the period. Carnegie Capital Asset Management LLC purchased a new position in APA during the 1st quarter worth approximately $504,000. Wedmont Private Capital acquired a new stake in APA during the 1st quarter valued at approximately $263,000. Finally, Symmetry Partners LLC boosted its holdings in shares of APA by 34.6% in the 1st quarter. Symmetry Partners LLC now owns 12,656 shares of the company’s stock valued at $523,000 after acquiring an additional 3,256 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on APA. Susquehanna Bancshares boosted their target price on shares of APA from $42.00 to $52.00 in a research report on Monday, April 25th. Barclays raised their target price on APA from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. KeyCorp boosted their price target on APA from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, April 4th. Piper Sandler dropped their price objective on shares of APA to $54.00 and set a “na” rating on the stock in a research note on Wednesday, May 18th. Finally, Stifel Nicolaus boosted their target price on shares of APA from $51.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, May 6th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.16.

APA stock opened at $36.21 on Friday. APA Co. has a 12-month low of $15.55 and a 12-month high of $51.95. The business’s 50-day moving average is $43.20 and its 200 day moving average is $37.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 6.77. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.15 and a beta of 4.12.

APA (NASDAQ:APAGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. APA had a return on equity of 11,632.79% and a net margin of 30.21%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue was up 42.7% on a year-over-year basis. As a group, equities analysts forecast that APA Co. will post 10.94 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, July 22nd will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date 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 dated 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 transaction, the insider now directly owns 58,844 shares in the company, valued at $2,427,903.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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