Jaffetilchin Investment Partners LLC Invests $888,000 in APA Corporation (NASDAQ:APA)

Jaffetilchin Investment Partners LLC bought a new position in shares of APA Corporation (NASDAQ:APA) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 42,251 shares of the company’s stock, valued at approximately $888,000.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of APA by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 9,507,956 shares of the company’s stock worth $219,016,000 after purchasing an additional 200,770 shares during the last quarter. US Bancorp DE increased its holdings in shares of APA by 2.2% during the 4th quarter. US Bancorp DE now owns 47,719 shares of the company’s stock worth $1,102,000 after buying an additional 1,010 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of APA by 3,303.0% during the 1st quarter. GAMMA Investing LLC now owns 268,194 shares of the company’s stock worth $5,637,000 after purchasing an additional 260,313 shares during the period. Sanctuary Advisors LLC boosted its position in shares of APA by 23.9% during the 4th quarter. Sanctuary Advisors LLC now owns 14,468 shares of the company’s stock worth $333,000 after purchasing an additional 2,790 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of APA by 14.5% during the 1st quarter. Fifth Third Bancorp now owns 26,137 shares of the company’s stock worth $549,000 after purchasing an additional 3,306 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APA shares. Wells Fargo & Company cut their price target on shares of APA from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, June 16th. Citigroup lifted their price objective on shares of APA from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. Royal Bank Of Canada dropped their price objective on shares of APA from $27.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Susquehanna dropped their price target on shares of APA from $31.00 to $30.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $25.00 price target (up from $23.00) on shares of APA in a research note on Friday, May 30th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $24.72.

APA Stock Up 0.6%

Shares of NASDAQ APA opened at $18.56 on Friday. The firm’s 50-day moving average is $17.64 and its two-hundred day moving average is $19.88. APA Corporation has a 12-month low of $13.58 and a 12-month high of $33.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $6.71 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 5.83 and a beta of 1.25.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. Equities analysts anticipate that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA’s dividend payout ratio (DPR) is 35.97%.

About APA

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.