Arrowstreet Capital Limited Partnership Has $205.18 Million Stock Position in APA Corporation $APA

Arrowstreet Capital Limited Partnership lifted its stake in shares of APA Corporation (NASDAQ:APA) by 1,726.2% during the first quarter, HoldingsChannel reports. The firm owned 4,834,502 shares of the company’s stock after acquiring an additional 4,569,779 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in APA were worth $205,176,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hollencrest Capital Management increased its holdings in APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in APA in the first quarter valued at $28,000. Summit Securities Group LLC lifted its stake in APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of APA in the 4th quarter valued at about $37,000. Finally, Global Assets Advisory LLC bought a new position in shares of APA in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on APA shares. Barclays upped their target price on shares of APA from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. Raymond James Financial reduced their price target on APA from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Capital One Financial upped their price objective on APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Wells Fargo & Company raised their price objective on APA from $21.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Finally, Citigroup reiterated a “neutral” rating on shares of APA in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.35.

APA Stock Performance

NASDAQ:APA opened at $36.15 on Friday. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 8.43 and a beta of 0.35. APA Corporation has a fifty-two week low of $17.86 and a fifty-two week high of $45.66. 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 stock has a fifty day moving average price of $35.56 and a 200-day moving average price of $33.91.

APA (NASDAQ:APA) last issued its quarterly 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 company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.APA’s revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the business earned $1.06 earnings per share. As a group, equities analysts anticipate that APA Corporation will post 4.92 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. This represents a $1.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio (DPR) is currently 23.31%.

Insider Buying and Selling

In other news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

APA Company 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.