Advisors Asset Management Inc. Buys 3,441 Shares of APA Corporation $APA

Advisors Asset Management Inc. increased its stake in shares of APA Corporation (NASDAQ:APA) by 160.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,580 shares of the company’s stock after acquiring an additional 3,441 shares during the quarter. Advisors Asset Management Inc.’s holdings in APA were worth $117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its position in shares of APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock worth $30,000 after acquiring an additional 1,382 shares during the last quarter. Rakuten Securities Inc. boosted its position in shares of APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock worth $32,000 after acquiring an additional 1,288 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of APA during the fourth quarter worth $42,000. SVB Wealth LLC bought a new position in shares of APA during the first quarter worth $55,000. Finally, Allworth Financial LP boosted its position in shares of APA by 122.5% during the first quarter. Allworth Financial LP now owns 3,084 shares of the company’s stock worth $65,000 after acquiring an additional 1,698 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on APA shares. Barclays increased their price objective on shares of APA from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, August 8th. Argus upgraded shares of APA to a “hold” rating in a research report on Friday, May 16th. Roth Capital lowered shares of APA from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research report on Wednesday, August 13th. Cowen reiterated a “hold” rating on shares of APA in a research report on Thursday, August 7th. Finally, Morgan Stanley increased their price objective on shares of APA from $22.00 to $23.00 and gave the company an “underweight” rating in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.83.

APA Trading Down 0.6%

Shares of APA opened at $22.84 on Friday. APA Corporation has a twelve month low of $13.58 and a twelve month high of $27.48. The company has a market cap of $8.17 billion, a P/E ratio of 7.64, a P/E/G ratio of 6.58 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $20.56 and its 200-day simple moving average is $18.94.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. As a group, analysts expect that APA Corporation will post 4.03 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s dividend payout ratio (DPR) is currently 33.44%.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.