CWA Asset Management Group LLC Purchases Shares of 89,269 APA Corporation $APA

CWA Asset Management Group LLC acquired a new position in shares of APA Corporation (NASDAQ:APA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 89,269 shares of the company’s stock, valued at approximately $2,167,000.

Other large investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its holdings in APA by 7.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 12,888 shares of the company’s stock worth $313,000 after purchasing an additional 873 shares during the last quarter. Gateway Investment Advisers LLC bought a new position in APA during the 3rd quarter worth $225,000. Mather Group LLC. acquired a new stake in shares of APA during the third quarter worth $85,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of APA by 869.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock worth $4,872,000 after buying an additional 174,369 shares in the last quarter. Finally, Merit Financial Group LLC boosted its position in shares of APA by 55.5% in the third quarter. Merit Financial Group LLC now owns 18,165 shares of the company’s stock valued at $441,000 after acquiring an additional 6,483 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Trading Down 3.5%

Shares of APA opened at $24.47 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.78. APA Corporation has a 52-week low of $13.58 and a 52-week high of $27.72. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 10.23 and a beta of 0.74. The business’s fifty day moving average is $24.47 and its 200-day moving average is $22.50.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.19. APA had a return on equity of 19.86% and a net margin of 15.49%.The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the firm posted $1.00 earnings per share. APA’s revenue was down 16.4% compared to the same quarter last year. Equities 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 Monday, February 23rd. Investors of record on Thursday, January 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. APA’s payout ratio is 24.04%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APA. Roth Capital raised their price target on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Piper Sandler increased their target price on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Scotiabank lifted their price target on shares of APA from $22.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Johnson Rice upgraded shares of APA from a “hold” rating to an “accumulate” rating and lifted their price target for the company from $35.00 to $40.00 in a research report on Thursday, December 4th. Finally, Evercore ISI reduced their price target on APA from $21.00 to $16.00 in a research report on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $26.68.

APA Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.