42,000 Shares in APA Corporation $APA Acquired by Monetta Financial Services Inc.

Monetta Financial Services Inc. acquired a new position in APA Corporation (NASDAQ:APA) during the third quarter, HoldingsChannel reports. The institutional investor acquired 42,000 shares of the company’s stock, valued at approximately $1,020,000.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of APA by 869.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock worth $4,872,000 after purchasing an additional 174,369 shares during the period. Prudential Financial Inc. raised its stake in APA by 38.8% in the second quarter. Prudential Financial Inc. now owns 284,275 shares of the company’s stock worth $5,199,000 after buying an additional 79,451 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new position in APA in the third quarter worth about $2,337,000. AE Wealth Management LLC lifted its holdings in APA by 2,049.4% in the third quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock worth $9,797,000 after buying an additional 384,738 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in APA by 22.0% in the second quarter. Schroder Investment Management Group now owns 914,667 shares of the company’s stock worth $16,729,000 after buying an additional 165,006 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group increased their target price on APA from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Sanford C. Bernstein decreased their price objective on APA from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, January 5th. Morgan Stanley dropped their target price on shares of APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Friday, January 23rd. The Goldman Sachs Group lifted their price target on shares of APA from $21.00 to $23.00 and gave the company a “sell” rating in a research report on Thursday, January 22nd. Finally, Capital One Financial dropped their price objective on shares of APA from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, APA presently has a consensus rating of “Hold” and an average price target of $26.39.

APA Stock Performance

APA stock opened at $28.72 on Tuesday. APA Corporation has a 12-month low of $13.58 and a 12-month high of $30.08. The stock’s 50 day simple moving average is $25.89 and its 200 day simple moving average is $24.34. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $10.19 billion, a PE ratio of 6.90, a price-to-earnings-growth ratio of 13.28 and a beta of 0.74.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. APA’s payout ratio is presently 24.04%.

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.