AE Wealth Management LLC Makes New Investment in APA Corporation $APA

AE Wealth Management LLC purchased a new position in shares of APA Corporation (NASDAQ:APA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,773 shares of the company’s stock, valued at approximately $343,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacific Heights Asset Management LLC boosted its position in shares of APA by 33.3% during the second quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the company’s stock worth $7,316,000 after buying an additional 100,000 shares during the period. Fifth Third Bancorp lifted its stake in APA by 98.7% during the 2nd quarter. Fifth Third Bancorp now owns 51,924 shares of the company’s stock worth $950,000 after acquiring an additional 25,787 shares in the last quarter. Lynx Investment Advisory acquired a new position in APA in the 1st quarter valued at about $415,000. CWM LLC increased its stake in APA by 195.7% during the second quarter. CWM LLC now owns 38,310 shares of the company’s stock worth $701,000 after purchasing an additional 25,356 shares during the period. Finally, Bayforest Capital Ltd lifted its position in shares of APA by 1,576.6% during the first quarter. Bayforest Capital Ltd now owns 18,979 shares of the company’s stock worth $399,000 after purchasing an additional 17,847 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA opened at $24.79 on Friday. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 6.28 and a beta of 1.12. APA Corporation has a 52-week low of $13.58 and a 52-week high of $25.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $23.52 and a 200 day moving average price of $20.68.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. APA had a net margin of 10.53% and a return on equity of 20.98%. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the company earned $1.00 earnings per share. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. Research analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, October 22nd. APA’s dividend payout ratio is currently 24.04%.

Analyst Ratings Changes

Several brokerages recently weighed in on APA. Wolfe Research upped their target price on shares of APA from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Cowen restated a “hold” rating on shares of APA in a research note on Thursday, August 7th. Susquehanna upped their price objective on APA from $30.00 to $32.00 and gave the stock a “positive” rating in a research report on Wednesday. Roth Capital lifted their target price on APA from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, Scotiabank boosted their target price on APA from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.44.

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.