Contravisory Investment Management Inc. Has $14.71 Million Stock Holdings in APA Corporation $APA

Contravisory Investment Management Inc. increased its stake in APA Corporation (NASDAQ:APA) by 706.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,524 shares of the company’s stock after acquiring an additional 303,539 shares during the period. APA makes up approximately 3.0% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its biggest position. Contravisory Investment Management Inc. owned 0.10% of APA worth $14,706,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its holdings in shares of APA by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after buying an additional 375 shares during the period. Coldstream Capital Management Inc. boosted its holdings in APA by 1.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock valued at $689,000 after acquiring an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in APA by 3.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock valued at $358,000 after acquiring an additional 461 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in APA by 0.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 130,869 shares of the company’s stock valued at $3,201,000 after acquiring an additional 527 shares during the period. Finally, O Keefe Stevens Advisory Inc. grew its position in APA by 1.9% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 30,093 shares of the company’s stock valued at $736,000 after acquiring an additional 555 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Scotiabank increased their target price on APA from $26.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets lowered their target price on shares of APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research note on Wednesday, May 13th. Wolfe Research upped their price target on shares of APA from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Stephens raised their price target on shares of APA from $43.00 to $47.00 in a research note on Wednesday, June 10th. Finally, Truist Financial lifted their price objective on shares of APA from $38.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.08.

APA Trading Up 0.3%

NASDAQ APA opened at $33.42 on Friday. APA Corporation has a 52 week low of $17.86 and a 52 week high of $45.66. The company has a 50 day moving average price of $37.14 and a 200 day moving average price of $32.62. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a market cap of $11.81 billion, a PE ratio of 7.79 and a beta of 0.33.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.27. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 earnings per share. As a group, sell-side analysts forecast that APA Corporation will post 5.6 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be paid 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 3.0%. APA’s dividend payout ratio (DPR) is 23.31%.

Insiders Place Their Bets

In other news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president owned 66,810 shares in the company, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

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.