Envestnet Asset Management Inc. Increases Position in APA Corporation $APA

Envestnet Asset Management Inc. raised its position in shares of APA Corporation (NASDAQ:APA) by 14.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 298,132 shares of the company’s stock after purchasing an additional 37,572 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of APA worth $7,239,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of APA by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after purchasing an additional 2,070 shares during the last quarter. NewEdge Advisors LLC grew its position in APA by 49.6% during the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock valued at $227,000 after acquiring an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after acquiring an additional 806,252 shares in the last quarter. Focus Partners Wealth raised its stake in shares of APA by 10.6% during the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock worth $942,000 after acquiring an additional 4,297 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of APA by 195.7% in the 2nd quarter. CWM LLC now owns 38,310 shares of the company’s stock worth $701,000 after acquiring an additional 25,356 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

APA has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of APA in a research report on Monday, December 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $31.00 price objective on shares of APA in a research note on Monday, November 24th. Morgan Stanley lowered their target price on APA from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Friday, January 23rd. Susquehanna increased their target price on APA from $30.00 to $32.00 and gave the company a “positive” rating in a report on Wednesday, November 12th. Finally, TD Cowen raised APA to a “hold” rating in a research note on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.39.

APA Trading Down 0.1%

APA opened at $29.06 on Friday. APA Corporation has a one year low of $13.58 and a one year high of $30.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day simple moving average of $25.82 and a two-hundred day simple moving average of $24.19. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 13.29 and a beta of 0.74.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA’s payout ratio is presently 24.04%.

APA Company 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.