WBI Investments LLC Invests $1.26 Million in APA Corporation $APA

WBI Investments LLC bought a new position in shares of APA Corporation (NASDAQ:APA) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 60,089 shares of the company’s stock, valued at approximately $1,263,000.

A number of other large investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in APA by 3,303.0% during the first quarter. GAMMA Investing LLC now owns 268,194 shares of the company’s stock worth $5,637,000 after buying an additional 260,313 shares in the last quarter. Fifth Third Bancorp grew its position in APA by 14.5% during the first quarter. Fifth Third Bancorp now owns 26,137 shares of the company’s stock worth $549,000 after buying an additional 3,306 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in APA by 11.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 207,210 shares of the company’s stock worth $4,378,000 after buying an additional 21,630 shares in the last quarter. Envestnet Asset Management Inc. grew its position in APA by 34.2% during the first quarter. Envestnet Asset Management Inc. now owns 269,512 shares of the company’s stock worth $5,665,000 after buying an additional 68,725 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock worth $30,000 after buying an additional 1,382 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Trading Up 7.5%

Shares of APA stock opened at $23.29 on Thursday. The stock’s fifty day moving average price is $20.42 and its two-hundred day moving average price is $18.94. The company has a market cap of $8.33 billion, a PE ratio of 7.79, a P/E/G ratio of 6.43 and a beta of 1.29. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $27.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $1.17 EPS. The company’s revenue was down 14.4% compared to the same quarter last year. 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 Friday, November 21st. Investors of record on Wednesday, October 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.3%. APA’s dividend payout ratio (DPR) is 33.44%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stephens assumed coverage on APA in a research report on Tuesday, August 5th. They set an “equal weight” rating and a $24.00 price target on the stock. Argus raised APA to a “hold” rating in a research report on Friday, May 16th. UBS Group increased their price target on APA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Barclays increased their price target on APA from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Finally, Morgan Stanley raised their target price on APA from $22.00 to $23.00 and gave the company an “underweight” rating in a report on Monday, August 18th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.83.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.