NewEdge Advisors LLC Boosts Position in APA Co. (NASDAQ:APA)

NewEdge Advisors LLC grew its stake in shares of APA Co. (NASDAQ:APA) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,603 shares of the company’s stock after buying an additional 521 shares during the period. NewEdge Advisors LLC’s holdings in APA were worth $1,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of APA. American National Bank lifted its stake in APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares in the last quarter. Covestor Ltd increased its holdings in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of APA by 386.7% in 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 bought a new stake in APA during the second quarter valued at $42,000. Finally, GPS Wealth Strategies Group LLC grew its position in APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after buying an additional 1,590 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Trading Up 1.4 %

Shares of NASDAQ APA opened at $26.89 on Friday. The company has a market cap of $9.98 billion, a PE ratio of 3.01 and a beta of 3.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50 day moving average price is $27.06 and its 200-day moving average price is $29.66. APA Co. has a 52-week low of $22.72 and a 52-week high of $43.58.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.95 by $0.22. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s revenue was up 41.6% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. On average, equities research analysts expect that APA Co. will post 4.04 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.72%. APA’s dividend payout ratio is presently 11.19%.

Analyst Ratings Changes

Several research firms have weighed in on APA. Citigroup lowered their price target on APA from $33.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Scotiabank dropped their target price on shares of APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Mizuho decreased their price target on shares of APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price objective on shares of APA in a report on Tuesday, September 17th. Finally, Wolfe Research started coverage on shares of APA in a research report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 target price for the company. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, APA currently has a consensus rating of “Hold” and a consensus target price of $35.19.

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.