Envestnet Asset Management Inc. Boosts Stake in APA Corporation $APA

Envestnet Asset Management Inc. lifted its position in APA Corporation (NASDAQ:APA) by 14.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 298,132 shares of the company’s stock after acquiring an additional 37,572 shares during the period. Envestnet Asset Management Inc.’s holdings in APA were worth $7,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its stake in APA by 76.0% in the third quarter. Hantz Financial Services Inc. now owns 4,158 shares of the company’s stock worth $101,000 after purchasing an additional 1,795 shares during the period. Penserra Capital Management LLC lifted its position in APA by 86.2% during the third quarter. Penserra Capital Management LLC now owns 61,748 shares of the company’s stock valued at $1,498,000 after buying an additional 28,594 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of APA during the 3rd quarter valued at $2,337,000. Atlantic Union Bankshares Corp purchased a new stake in shares of APA in the 3rd quarter worth about $34,000. Finally, State of Wyoming increased its stake in shares of APA by 57.2% in the 3rd quarter. State of Wyoming now owns 17,376 shares of the company’s stock worth $422,000 after acquiring an additional 6,321 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

APA stock opened at $29.06 on Friday. The stock’s 50 day simple moving average is $25.82 and its 200 day simple moving average is $24.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. APA Corporation has a 12-month low of $13.58 and a 12-month high of $30.08. The stock has a market capitalization of $10.31 billion, a PE ratio of 6.99, a price-to-earnings-growth ratio of 13.29 and a beta of 0.74.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. APA’s dividend payout ratio (DPR) is 24.04%.

Analyst Ratings Changes

A number of brokerages recently issued reports on APA. UBS Group lifted their price target on shares of APA from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Mizuho boosted their price target on APA from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Friday, December 12th. Jefferies Financial Group upped their price target on APA from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group lifted their price objective on APA from $21.00 to $23.00 and gave the company a “sell” rating in a research note on Thursday, January 22nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $31.00 target price on shares of APA in a report on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average price target of $26.39.

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.