Lazard Asset Management LLC Makes New $20.59 Million Investment in APA Corporation $APA

Lazard Asset Management LLC acquired a new stake in shares of APA Corporation (NASDAQ:APA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 485,271 shares of the company’s stock, valued at approximately $20,595,000. Lazard Asset Management LLC owned approximately 0.14% of APA as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of APA. Arrowstreet Capital Limited Partnership raised its position in shares of APA by 1,726.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after purchasing an additional 4,569,779 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in APA by 76.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock worth $175,426,000 after buying an additional 3,117,032 shares during the last quarter. AQR Capital Management LLC boosted its holdings in APA by 157.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after buying an additional 1,869,891 shares during the last quarter. Morgan Stanley increased its stake in APA by 21.8% during the 4th quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after buying an additional 1,864,900 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in APA by 55.0% during the 1st quarter. First Trust Advisors LP now owns 4,154,301 shares of the company’s stock worth $176,309,000 after buying an additional 1,473,626 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Price Performance

NASDAQ:APA opened at $34.93 on Wednesday. APA Corporation has a one year low of $17.86 and a one year high of $45.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $12.34 billion, a PE ratio of 8.14 and a beta of 0.35. The stock has a 50 day moving average price of $35.33 and a 200 day moving average price of $34.14.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm’s revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. Equities research analysts expect that APA Corporation will post 4.92 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, July 22nd. APA’s payout ratio is currently 23.31%.

Insider Activity at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction 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. The trade was a 12.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APA. Susquehanna decreased their target price on APA from $47.00 to $45.00 and set a “positive” rating on the stock in a research report on Tuesday, July 21st. Truist Financial dropped their price target on APA from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Morgan Stanley decreased their price objective on APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, June 26th. Sanford C. Bernstein lifted their target price on shares of APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 20th. Finally, Barclays upped their target price on shares of APA from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.35.

About APA

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.