Mirae Asset Global Investments Co. Ltd. Acquires 52,387 Shares of APA Corporation $APA

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of APA Corporation (NASDAQ:APA) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 376,596 shares of the company’s stock after purchasing an additional 52,387 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in APA were worth $12,266,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Friedenthal Financial purchased a new stake in shares of APA during the 4th quarter valued at $938,000. Thrivent Financial for Lutherans lifted its holdings in shares of APA by 85.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock worth $1,976,000 after acquiring an additional 37,180 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in APA by 59.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,895 shares of the company’s stock worth $2,761,000 after acquiring an additional 42,068 shares in the last quarter. Prudential PLC grew its position in APA by 753.2% in the fourth quarter. Prudential PLC now owns 136,744 shares of the company’s stock worth $3,345,000 after acquiring an additional 120,717 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in APA by 20.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock valued at $4,723,000 after acquiring an additional 32,357 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APA has been the topic of a number of research reports. Truist Financial raised their price target on APA from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Monday. Morgan Stanley reduced their price objective on APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, June 26th. Zacks Research cut APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Roth Capital set a $39.00 target price on APA in a research report on Thursday, August 6th. Finally, Susquehanna upped their target price on APA from $45.00 to $47.00 and gave the stock a “positive” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.30.

Insiders Place Their Bets

In related news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the transaction, the vice president directly owned 66,810 shares in the company, valued at $2,675,072.40. This trade represents a 12.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.

APA Price Performance

Shares of NASDAQ:APA opened at $40.00 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The stock has a market cap of $14.01 billion, a PE ratio of 8.46 and a beta of 0.35. The company’s fifty day moving average is $35.31 and its 200 day moving average is $35.16. APA Corporation has a 52 week low of $19.96 and a 52 week high of $45.66.

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

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 2.5%. APA’s dividend payout ratio is currently 21.14%.

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.