Dockside LLC Buys Shares of 179,892 APA Corporation $APA

Dockside LLC bought a new position in shares of APA Corporation (NASDAQ:APA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 179,892 shares of the company’s stock, valued at approximately $5,859,000. APA accounts for approximately 1.4% of Dockside LLC’s holdings, making the stock its 10th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in APA by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after purchasing an additional 2,070 shares during the period. NewEdge Advisors LLC boosted its stake in shares of APA by 49.6% in the 1st quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock valued at $227,000 after purchasing an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of APA by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock valued at $56,092,000 after purchasing an additional 806,252 shares during the last quarter. Focus Partners Wealth increased its position in shares of APA by 10.6% during the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock worth $942,000 after buying an additional 4,297 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of APA during the second quarter worth $5,199,000. 83.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APA. Sanford C. Bernstein increased their price target on APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, May 20th. Morgan Stanley dropped their price objective on APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, June 26th. Weiss Ratings upgraded APA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Capital One Financial lifted their target price on APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company boosted their price target on APA from $39.00 to $49.00 and gave the company an “equal weight” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $41.30.

Insider Activity at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction 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 transaction, the vice president owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.

APA Stock Performance

Shares of APA stock opened at $40.47 on Friday. The business’s fifty day simple moving average is $35.39 and its 200 day simple moving average is $35.20. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $14.18 billion, a P/E ratio of 8.56 and a beta of 0.35. APA Corporation has a 12 month low of $19.96 and a 12 month high of $45.66.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period last year, the company posted $0.87 earnings per share. As a group, analysts anticipate that APA Corporation will post 5.25 EPS for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 22nd. APA’s dividend payout ratio (DPR) is 21.14%.

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.