IMS Capital Management Acquires Shares of 11,210 APA Co. (NASDAQ:APA)

IMS Capital Management acquired a new stake in APA Co. (NASDAQ:APA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,210 shares of the company’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American National Bank increased its position in shares of 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 purchasing an additional 490 shares during the last quarter. Covestor Ltd raised its stake in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after buying an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares in the last quarter. Rothschild Investment LLC purchased a new stake in APA during the second quarter worth $42,000. Finally, GPS Wealth Strategies Group LLC grew its position in shares of APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after purchasing an additional 1,590 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

APA stock opened at $24.46 on Tuesday. The business has a 50 day moving average of $27.43 and a 200-day moving average of $29.79. The company has a market capitalization of $9.08 billion, a P/E ratio of 2.74 and a beta of 3.24. APA Co. has a 1 year low of $22.72 and a 1 year high of $43.58. 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 (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm’s revenue was up 41.6% compared to the same quarter last year. On average, equities research analysts predict that APA Co. will post 4.04 earnings per share for the current year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of APA from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Piper Sandler lowered their target price on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Sanford C. Bernstein dropped their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price target on shares of APA in a research report on Tuesday, September 17th. Finally, Barclays restated an “equal weight” rating and issued a $35.00 target price on shares of APA in a research note on Wednesday, September 11th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.52.

APA Company 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.