APA Corporation $APA Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in APA Corporation (NASDAQ:APA) by 193.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 37,492 shares of the company’s stock after buying an additional 24,733 shares during the quarter. GAMMA Investing LLC’s holdings in APA were worth $686,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of APA. Dimensional Fund Advisors LP grew its stake in shares of APA by 46.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock worth $190,876,000 after acquiring an additional 2,894,543 shares in the last quarter. Nuveen LLC acquired a new position in shares of APA in the first quarter worth $22,533,000. Charles Schwab Investment Management Inc. grew its stake in shares of APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock worth $292,871,000 after acquiring an additional 1,046,893 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of APA by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock worth $765,964,000 after acquiring an additional 1,029,961 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of APA in the first quarter worth $17,129,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of APA from $22.00 to $23.00 and gave the stock an “underweight” rating in a research note on Monday, August 18th. Piper Sandler lifted their price objective on shares of APA from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of APA from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Cowen reaffirmed a “hold” rating on shares of APA in a research report on Thursday, August 7th. Finally, Roth Capital cut shares of APA from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, APA presently has an average rating of “Hold” and an average target price of $23.78.

APA Price Performance

Shares of APA opened at $24.42 on Thursday. APA Corporation has a 1-year low of $13.58 and a 1-year high of $27.48. The stock has a market cap of $8.74 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 6.84 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a fifty day moving average price of $21.24 and a 200 day moving average price of $19.18.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $1.17 earnings per share. APA’s quarterly revenue was down 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that APA Corporation will post 4.03 EPS for the current year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, October 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. APA’s payout ratio is 33.44%.

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.