Stevens Capital Management LP Purchases Shares of 30,588 APA Corporation $APA

Stevens Capital Management LP acquired a new position in shares of APA Corporation (NASDAQ:APA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,588 shares of the company’s stock, valued at approximately $559,000.

A number of other large investors have also recently bought and sold shares of the company. Wealthfront Advisers LLC lifted its position in shares of APA by 0.6% in the second quarter. Wealthfront Advisers LLC now owns 104,858 shares of the company’s stock worth $1,918,000 after purchasing an additional 612 shares in the last quarter. Cullen Investment Group LTD. boosted its stake in shares of APA by 5.9% during the 2nd quarter. Cullen Investment Group LTD. now owns 11,497 shares of the company’s stock worth $210,000 after buying an additional 637 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its holdings in shares of APA by 1.5% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 44,194 shares of the company’s stock valued at $808,000 after acquiring an additional 638 shares in the last quarter. Comerica Bank grew its holdings in shares of APA by 0.7% in the 1st quarter. Comerica Bank now owns 89,616 shares of the company’s stock valued at $1,884,000 after acquiring an additional 644 shares in the last quarter. Finally, Marco Investment Management LLC increased its position in shares of APA by 1.2% in the second quarter. Marco Investment Management LLC now owns 55,573 shares of the company’s stock valued at $1,016,000 after acquiring an additional 662 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APA. Susquehanna increased their price target on APA from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Wednesday, November 12th. Raymond James Financial increased their price objective on APA from $28.00 to $31.00 in a report on Tuesday, October 28th. Morgan Stanley raised their target price on shares of APA from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of APA from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Thursday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of APA in a research note on Monday, November 17th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, APA presently has a consensus rating of “Hold” and a consensus target price of $25.25.

APA Trading Up 2.4%

Shares of APA stock opened at $23.95 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day simple moving average of $23.68 and a two-hundred day simple moving average of $20.96. APA Corporation has a 1 year low of $13.58 and a 1 year high of $25.83. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 8.01, a P/E/G ratio of 6.28 and a beta of 1.12.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.19. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The company’s revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. Research analysts forecast that APA Corporation will post 4.03 EPS for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, October 22nd. APA’s payout ratio is currently 24.04%.

APA Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.