Corient Private Wealth LLC Acquires 26,979 Shares of APA Corporation $APA

Corient Private Wealth LLC lifted its holdings in shares of APA Corporation (NASDAQ:APA) by 23.9% during the second quarter, HoldingsChannel reports. The firm owned 140,065 shares of the company’s stock after purchasing an additional 26,979 shares during the quarter. Corient Private Wealth LLC’s holdings in APA were worth $2,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in APA. Harris Associates L P increased its holdings in APA by 1.9% during the first quarter. Harris Associates L P now owns 25,708,527 shares of the company’s stock worth $540,393,000 after buying an additional 488,530 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in APA by 2.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 14,208,961 shares of the company’s stock worth $259,882,000 after buying an additional 275,981 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of APA by 157.1% in the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after buying an additional 1,869,891 shares during the period. First Trust Advisors LP lifted its position in shares of APA by 23.9% during the 2nd quarter. First Trust Advisors LP now owns 2,710,405 shares of the company’s stock valued at $49,573,000 after buying an additional 522,947 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of APA by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after acquiring an additional 806,252 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APA has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of APA in a research note on Monday, December 8th. Scotiabank boosted their price target on shares of APA from $22.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Morgan Stanley upped their price target on shares of APA from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, November 20th. Sanford C. Bernstein lifted their target price on APA from $22.00 to $26.00 and gave the company a “market perform” rating in a report on Friday, November 21st. Finally, BMO Capital Markets increased their price target on shares of APA from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Monday, October 13th. Six analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.73.

APA Stock Performance

NASDAQ:APA opened at $24.41 on Tuesday. The stock has a market cap of $8.66 billion, a P/E ratio of 5.87, a PEG ratio of 6.50 and a beta of 0.75. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $24.20 and its two-hundred day moving average price is $22.18. APA Corporation has a twelve month low of $13.58 and a twelve month high of $27.72.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. APA had a net margin of 15.49% and a return on equity of 19.86%. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the firm posted $1.00 EPS. The firm’s revenue was down 16.4% compared to the same quarter last year. As a group, equities analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Stockholders of record on Thursday, January 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, January 22nd. APA’s dividend payout ratio is presently 24.04%.

APA Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.