Cambria Investment Management L.P. Invests $9.19 Million in APA Corporation $APA

Cambria Investment Management L.P. acquired a new stake in APA Corporation (NASDAQ:APA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 378,596 shares of the company’s stock, valued at approximately $9,192,000.

Other institutional investors also recently modified their holdings of the company. Howard Capital Management Inc. boosted its stake in APA by 0.5% during the third quarter. Howard Capital Management Inc. now owns 94,848 shares of the company’s stock worth $2,303,000 after acquiring an additional 485 shares in the last quarter. one8zero8 LLC increased its stake in APA by 1.2% in the third quarter. one8zero8 LLC now owns 42,254 shares of the company’s stock valued at $1,026,000 after purchasing an additional 488 shares in the last quarter. Arizona State Retirement System increased its stake in APA by 0.5% in the third quarter. Arizona State Retirement System now owns 106,734 shares of the company’s stock valued at $2,592,000 after purchasing an additional 517 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of APA by 19.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,349 shares of the company’s stock valued at $61,000 after purchasing an additional 550 shares during the period. Finally, Bank of Nova Scotia raised its holdings in shares of APA by 2.4% during the third quarter. Bank of Nova Scotia now owns 24,818 shares of the company’s stock valued at $603,000 after purchasing an additional 582 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on APA. Benchmark raised their target price on APA from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. JPMorgan Chase & Co. upped their price target on APA from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. TD Cowen upgraded APA to a “hold” rating in a report on Monday, February 9th. Citigroup raised their price objective on APA from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, Roth Mkm boosted their price objective on APA from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. Seven analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and a consensus target price of $30.16.

APA Stock Performance

Shares of APA stock opened at $36.61 on Thursday. The firm has a 50-day moving average of $28.58 and a 200-day moving average of $25.63. The company has a market cap of $12.93 billion, a P/E ratio of 9.18, a P/E/G ratio of 15.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82. APA Corporation has a one year low of $13.58 and a one year high of $36.77.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. APA had a net margin of 15.55% and a return on equity of 19.89%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm earned $0.79 earnings per share. The firm’s revenue was down 26.6% on a year-over-year basis. Equities research analysts forecast that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. APA’s dividend payout ratio (DPR) is currently 25.06%.

APA 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.