Cibc World Market Inc. Purchases 63,245 Shares of APA Corporation $APA

Cibc World Market Inc. raised its position in shares of APA Corporation (NASDAQ:APA) by 159.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,950 shares of the company’s stock after acquiring an additional 63,245 shares during the period. Cibc World Market Inc.’s holdings in APA were worth $2,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in APA by 13.6% during the third quarter. Dimensional Fund Advisors LP now owns 14,030,230 shares of the company’s stock valued at $340,657,000 after acquiring an additional 1,674,739 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of APA by 76.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after purchasing an additional 3,117,032 shares during the period. Northern Trust Corp boosted its stake in shares of APA by 29.6% during the third quarter. Northern Trust Corp now owns 4,462,476 shares of the company’s stock valued at $108,349,000 after purchasing an additional 1,018,326 shares during the period. AQR Capital Management LLC boosted its stake in shares of APA by 157.1% during the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after purchasing an additional 1,869,891 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of APA by 8.4% during the third quarter. Bank of America Corp DE now owns 2,498,208 shares of the company’s stock valued at $60,656,000 after purchasing an additional 193,580 shares during the period. Institutional investors own 83.01% of the company’s stock.

Insider Transactions at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the transaction, the vice president owned 66,810 shares in the company, valued at $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total transaction of $833,290.00. Following the transaction, the director owned 6,634 shares in the company, valued at approximately $240,349.82. This trade represents a 77.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company’s stock.

APA Stock Performance

Shares of APA stock opened at $37.66 on Tuesday. The company has a market capitalization of $13.31 billion, a PE ratio of 8.78 and a beta of 0.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50-day simple moving average of $38.79 and a two-hundred day simple moving average of $31.72. APA Corporation has a one year low of $17.74 and a one year high of $45.66.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. Research analysts expect that APA Corporation will post 5.18 EPS for the current fiscal year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. APA’s payout ratio is currently 23.31%.

Analyst Upgrades and Downgrades

APA has been the topic of a number of research analyst reports. Scotiabank upped their target price on shares of APA from $26.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Zacks Research lowered shares of APA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings raised APA from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Wall Street Zen raised APA from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, The Goldman Sachs Group increased their price objective on APA from $31.00 to $34.00 and gave the stock a “sell” rating in a research note on Tuesday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.96.

About APA

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.