Twin Capital Management Inc. Purchases New Stake in APA Corporation $APA

Twin Capital Management Inc. acquired a new stake in shares of APA Corporation (NASDAQ:APA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 33,187 shares of the company’s stock, valued at approximately $1,408,000.

Other hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its position in shares of APA by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after purchasing an additional 375 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after purchasing an additional 396 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock worth $358,000 after purchasing an additional 461 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in APA by 0.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 130,869 shares of the company’s stock worth $3,201,000 after purchasing an additional 527 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. grew its stake in APA by 1.9% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 30,093 shares of the company’s stock worth $736,000 after purchasing an additional 555 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at APA

In related news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president directly owned 66,810 shares in the company, valued at $2,675,072.40. This represents a 12.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on APA shares. Stephens boosted their price objective on APA from $43.00 to $47.00 in a report on Wednesday, June 10th. Capital One Financial increased their target price on APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Wells Fargo & Company lifted their target price on APA from $21.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Weiss Ratings downgraded APA from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group reduced their price objective on APA from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Tuesday, June 30th. Eight 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.42.

APA Stock Performance

Shares of NASDAQ APA opened at $34.27 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $35.76 and its two-hundred day moving average price is $33.44. APA Corporation has a 52-week low of $17.86 and a 52-week high of $45.66. The stock has a market capitalization of $12.11 billion, a P/E ratio of 7.99 and a beta of 0.35.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.11 by $0.27. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The business’s revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 earnings per share. As a group, sell-side analysts forecast that APA Corporation will post 5.13 earnings per share for the current year.

APA Dividend Announcement

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

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.