Parallel Advisors LLC Boosts Stake in APA Corporation $APA

Parallel Advisors LLC increased its stake in APA Corporation (NASDAQ:APA) by 40.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,403 shares of the company’s stock after buying an additional 3,306 shares during the period. Parallel Advisors LLC’s holdings in APA were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC boosted its stake in APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock valued at $30,000 after purchasing an additional 1,382 shares during the last quarter. Rakuten Securities Inc. boosted its stake in APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock valued at $32,000 after purchasing an additional 1,288 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new stake in APA during the 4th quarter valued at $42,000. SVB Wealth LLC purchased a new stake in APA during the 1st quarter valued at $55,000. Finally, Allworth Financial LP boosted its stake in APA by 122.5% during the 1st quarter. Allworth Financial LP now owns 3,084 shares of the company’s stock valued at $65,000 after purchasing an additional 1,698 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Up 0.6%

Shares of APA stock opened at $23.61 on Tuesday. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 6.70 and a beta of 1.29. The business has a 50-day moving average price of $21.00 and a 200-day moving average price of $19.11. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. APA Corporation has a twelve month low of $13.58 and a twelve month high of $27.48.

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

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on APA shares. Roth Capital cut APA from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a report on Wednesday, August 13th. The Goldman Sachs Group increased their price target on APA from $17.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, August 26th. Raymond James Financial reissued an “outperform” rating and set a $28.00 price target (up from $26.00) on shares of APA in a report on Wednesday, September 10th. Cowen reissued a “hold” rating on shares of APA in a report on Thursday, August 7th. Finally, Cfra Research raised APA to a “hold” rating in a report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, APA currently has a consensus rating of “Hold” and an average target price of $23.78.

APA Profile

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.