Inspire Investing LLC Boosts Position in APA Co. (NASDAQ:APA)

Inspire Investing LLC grew its holdings in shares of APA Co. (NASDAQ:APA) by 29.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,791 shares of the company’s stock after buying an additional 3,859 shares during the period. Inspire Investing LLC’s holdings in APA were worth $494,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after buying an additional 2,004,555 shares during the period. Wealthquest Corp boosted its position in shares of APA by 21.7% during the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock valued at $5,533,000 after purchasing an additional 27,513 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of APA by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock valued at $66,093,000 after purchasing an additional 345,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after purchasing an additional 1,938,335 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of APA by 18.5% during the first quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,580 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APA. JPMorgan Chase & Co. dropped their price target on APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Susquehanna dropped their price target on APA from $57.00 to $52.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their target price on APA from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Mizuho dropped their target price on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Finally, Evercore ISI reissued an “in-line” rating and issued a $39.00 target price on shares of APA in a report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.38.

APA Trading Down 1.1 %

Shares of NASDAQ:APA opened at $25.07 on Friday. The company has a market cap of $9.31 billion, a P/E ratio of 2.80 and a beta of 3.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. APA Co. has a 1 year low of $22.72 and a 1 year high of $43.58. The stock’s fifty day moving average price is $28.39 and its 200-day moving average price is $30.13.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. Sell-side analysts expect that APA Co. will post 4.34 earnings per share for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 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 3.99%. The ex-dividend date is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

APA Profile

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.