Kingswood Wealth Advisors LLC Acquires New Holdings in APA Co. (NASDAQ:APA)

Kingswood Wealth Advisors LLC acquired a new stake in APA Co. (NASDAQ:APA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,514 shares of the company’s stock, valued at approximately $327,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of APA. American National Bank grew its position in APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after acquiring an additional 490 shares in the last quarter. Quent Capital LLC grew its position in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after acquiring an additional 375 shares in the last quarter. Rakuten Securities Inc. acquired a new position in APA in the 4th quarter valued at about $34,000. Principal Securities Inc. acquired a new position in shares of APA during the fourth quarter worth about $39,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of APA during the fourth quarter worth about $44,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APA. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of APA in a research report on Monday, April 8th. Piper Sandler lowered their price objective on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, May 14th. Wells Fargo & Company lowered their price objective on APA from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. StockNews.com downgraded APA from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Barclays lowered their price target on APA from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.52.

APA Price Performance

APA stock opened at $29.44 on Friday. APA Co. has a 12 month low of $27.17 and a 12 month high of $46.15. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50 day simple moving average of $29.88 and a 200-day simple moving average of $31.78. The stock has a market capitalization of $10.93 billion, a PE ratio of 3.29, a price-to-earnings-growth ratio of 0.34 and a beta of 3.24.

APA (NASDAQ:APA) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the company earned $1.19 EPS. APA’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts predict that APA Co. will post 4.47 earnings per share for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

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.