APA Corporation $APA Holdings Raised by Vise Technologies Inc.

Vise Technologies Inc. increased its stake in APA Corporation (NASDAQ:APA) by 76.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,543 shares of the company’s stock after purchasing an additional 40,006 shares during the quarter. Vise Technologies Inc.’s holdings in APA were worth $3,844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. raised its position in shares of APA by 8.7% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,456 shares of the company’s stock worth $102,000 after buying an additional 197 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of APA by 9.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,206 shares of the company’s stock valued at $104,000 after acquiring an additional 285 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of APA by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock valued at $52,000 after acquiring an additional 330 shares in the last quarter. Waverly Advisors LLC increased its stake in shares of APA by 4.3% during the second quarter. Waverly Advisors LLC now owns 9,849 shares of the company’s stock valued at $321,000 after acquiring an additional 405 shares during the period. Finally, Fortitude Family Office LLC increased its stake in shares of APA by 37.9% during the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company’s stock valued at $48,000 after acquiring an additional 409 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Stock Down 2.2%

NASDAQ APA opened at $47.77 on Wednesday. APA Corporation has a 12 month low of $21.63 and a 12 month high of $52.96. The company has a market capitalization 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’s 50 day simple moving average is $45.76 and its 200 day simple moving average is $37.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%. During the same quarter in the previous year, the business posted $0.87 earnings per share. Equities research analysts expect that APA Corporation will post 6.46 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, October 22nd. APA’s dividend payout ratio is 21.14%.

APA declared that its Board of Directors has initiated a share buyback program on Wednesday, September 16th that authorizes the company to buy back 40,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APA. Wells Fargo & Company upped their target price on APA from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 14th. Citigroup lifted their price target on APA from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Truist Financial boosted their price objective on APA from $44.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. Royal Bank Of Canada boosted their price objective on APA from $47.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 15th. Finally, Mizuho upped their price objective on APA from $36.00 to $44.00 and gave the company an “underperform” rating in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, APA has an average rating of “Hold” and an average price target of $44.76.

More APA News

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

About APA

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.