AXQ Capital LP Purchases Shares of 20,797 APA Corporation $APA

AXQ Capital LP acquired a new position in shares of APA Corporation (NASDAQ:APA) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 20,797 shares of the company’s stock, valued at approximately $505,000.

Several other hedge funds have also modified their holdings of APA. Deseret Mutual Benefit Administrators raised its stake in APA by 276.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of APA during the 3rd quarter valued at $34,000. Spire Wealth Management increased its holdings in shares of APA by 179.6% during the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after buying an additional 977 shares during the last quarter. MAI Capital Management raised its position in shares of APA by 76.5% in the 2nd quarter. MAI Capital Management now owns 2,134 shares of the company’s stock worth $39,000 after buying an additional 925 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in APA by 1,731.8% during the second quarter. Hantz Financial Services Inc. now owns 2,363 shares of the company’s stock worth $43,000 after acquiring an additional 2,234 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Down 0.3%

NASDAQ:APA opened at $28.64 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $25.98 and a 200-day moving average of $24.40. The firm has a market capitalization of $10.16 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 13.13 and a beta of 0.74. APA Corporation has a 52 week low of $13.58 and a 52 week high of $30.08.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. APA’s dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APA. UBS Group boosted their target price on APA from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. William Blair assumed coverage on shares of APA in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 target price on the stock. Benchmark reaffirmed a “buy” rating on shares of APA in a research report on Monday, February 2nd. Sanford C. Bernstein lowered their price target on APA from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, January 5th. Finally, Mizuho raised their target price on APA from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Friday, December 12th. Seven investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.39.

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.