Concurrent Investment Advisors LLC Buys New Shares in APA Corporation $APA

Concurrent Investment Advisors LLC purchased a new stake in APA Corporation (NASDAQ:APA) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,682 shares of the company’s stock, valued at approximately $195,000.

A number of other large investors have also recently added to or reduced their stakes in APA. GAMMA Investing LLC lifted its stake in APA by 61.9% in the first quarter. GAMMA Investing LLC now owns 12,759 shares of the company’s stock valued at $268,000 after acquiring an additional 4,878 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in APA in the first quarter valued at $238,000. State of Alaska Department of Revenue lifted its stake in APA by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 43,353 shares of the company’s stock valued at $911,000 after acquiring an additional 1,175 shares during the last quarter. TrueMark Investments LLC acquired a new stake in APA in the first quarter valued at $5,138,000. Finally, S.A. Mason LLC lifted its stake in APA by 17.3% in the first quarter. S.A. Mason LLC now owns 10,175 shares of the company’s stock valued at $214,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Price Performance

APA stock opened at $22.49 on Tuesday. 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 12 month low of $13.58 and a 12 month high of $25.83. The firm has a market cap of $8.05 billion, a P/E ratio of 7.52, a P/E/G ratio of 6.39 and a beta of 1.16. The company’s 50-day moving average price is $22.94 and its two-hundred day moving average price is $19.64.

APA (NASDAQ:APA) last released its earnings results on Wednesday, August 6th. The company reported $0.87 EPS 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 firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm earned $1.17 EPS. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. On average, analysts anticipate that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be issued 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%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APA. Cowen reiterated a “hold” rating on shares of APA in a research note on Thursday, August 7th. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 price target (up previously from $26.00) on shares of APA in a research note on Wednesday, September 10th. Morgan Stanley cut their target price on shares of APA from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Tuesday, October 14th. Stephens initiated coverage on shares of APA in a research note on Tuesday, August 5th. They set an “equal weight” rating and a $24.00 target price for the company. Finally, Mizuho raised their target price on shares of APA from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.74.

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.