426,252 Shares in APA Corporation $APA Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of APA Corporation (NASDAQ:APA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 426,252 shares of the company’s stock, valued at approximately $17,707,000. Mirae Asset Global Investments Co. Ltd. owned about 0.12% of APA as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of APA in the second quarter valued at approximately $1,173,231,000. State Street Corp grew its position in shares of APA by 1.5% during the second quarter. State Street Corp now owns 25,181,423 shares of the company’s stock worth $820,159,000 after acquiring an additional 377,429 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of APA by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company’s stock worth $695,099,000 after acquiring an additional 1,055,016 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of APA by 1,726.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock valued at $205,176,000 after acquiring an additional 4,569,779 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of APA by 55.0% in the 1st quarter. First Trust Advisors LP now owns 4,154,301 shares of the company’s stock valued at $176,309,000 after acquiring an additional 1,473,626 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Key Headlines Impacting APA

Here are the key news stories impacting APA this week:

• Positive Sentiment: APA was named among four stocks that may combine attractive valuations with sustainable earnings growth, which could support investor interest in the shares. 4 GARP Stocks to Buy Now as Volatility Fuels Value vs. Growth Debate
• Positive Sentiment: Wall Street analysts are characterized as moderately optimistic after APA significantly outperformed the broader market over the past year. A separate article notes the stock recently reached a 52-week high, though it does not establish how much further it may rise. Are Wall Street Analysts Predicting APA Corporation Stock Will Climb or Sink? APA Corporation Hits Fresh High: Is There Still Room to Run?
• Neutral Sentiment: APA is scheduled to report earnings Wednesday, and analysts are previewing estimates for key Q3 metrics. These are previews, not reported results, so the earnings release remains a potential catalyst and source of uncertainty. APA Set to Post Earnings on Wednesday What Analyst Projections for Key Metrics Reveal About APA Q3 Earnings

Analyst Upgrades and Downgrades

APA has been the topic of several research reports. Argus raised shares of APA from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Wednesday, August 19th. Royal Bank Of Canada lifted their price objective on shares of APA from $47.00 to $49.00 and gave the company a “sector perform” rating in a research note on Thursday, October 15th. KeyCorp set a $46.00 target price on shares of APA in a report on Wednesday, August 12th. The Goldman Sachs Group reiterated a “sell” rating and set a $43.00 target price on shares of APA in a research note on Monday, September 7th. Finally, Weiss Ratings upgraded shares of APA from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, APA currently has an average rating of “Hold” and an average target price of $44.76.

APA Stock Down 2.2%

Shares of APA stock opened at $47.77 on Wednesday. The company has a market cap of $16.74 billion, a P/E ratio of 10.10, a PEG ratio of 0.76 and a beta of 0.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. APA Corporation has a one year low of $21.63 and a one year high of $52.96. The firm has a fifty day moving average of $45.76 and a two-hundred day moving average of $37.80.

APA (NASDAQ:APA) last released its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%. During the same quarter last year, the business posted $0.87 EPS. On average, analysts forecast that APA Corporation will post 6.46 earnings per share for the current year.

APA announced that its Board of Directors has approved a share buyback plan on Wednesday, September 16th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, October 22nd. APA’s dividend payout ratio is currently 21.14%.

APA Company Profile

APA Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company’s activities include identifying hydrocarbon resources, drilling and completing wells, operating producing properties, and managing related infrastructure.

APA’s principal producing areas include the Permian Basin in the United States and Egypt’s Western Desert, where it operates through joint ventures with the Egyptian General Petroleum Corporation.