APA Corporation $APA Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC lessened its position in APA Corporation (NASDAQ:APA) by 27.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,550 shares of the company’s stock after selling 6,250 shares during the period. Intellectus Partners LLC’s holdings in APA were worth $303,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacific Heights Asset Management LLC lifted its stake in shares of APA by 33.3% in the 2nd quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the company’s stock worth $7,316,000 after acquiring an additional 100,000 shares during the period. Fifth Third Bancorp boosted its holdings in APA by 98.7% during the second quarter. Fifth Third Bancorp now owns 51,924 shares of the company’s stock worth $950,000 after buying an additional 25,787 shares in the last quarter. Lynx Investment Advisory purchased a new stake in APA during the first quarter worth about $415,000. Bayforest Capital Ltd boosted its holdings in APA by 1,576.6% during the first quarter. Bayforest Capital Ltd now owns 18,979 shares of the company’s stock worth $399,000 after buying an additional 17,847 shares in the last quarter. Finally, CWM LLC boosted its holdings in APA by 195.7% during the second quarter. CWM LLC now owns 38,310 shares of the company’s stock worth $701,000 after buying an additional 25,356 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA opened at $22.49 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market cap of $8.05 billion, a P/E ratio of 7.52, a PEG ratio of 6.28 and a beta of 1.16. The company has a 50-day moving average of $23.39 and a two-hundred day moving average of $20.22. APA Corporation has a 12-month low of $13.58 and a 12-month high of $25.83.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.42. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, research analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s payout ratio is currently 33.44%.

Wall Street Analyst Weigh In

A number of research firms recently commented on APA. Scotiabank boosted their price objective on shares of APA from $22.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Royal Bank Of Canada boosted their price objective on shares of APA from $23.00 to $24.00 and gave the stock a “sector perform” rating in a report on Monday, October 13th. Evercore ISI boosted their price objective on shares of APA from $16.00 to $21.00 in a report on Monday, October 27th. UBS Group boosted their price objective on shares of APA from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of APA from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.79.

APA 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.