Clear Creek Financial Management LLC Makes New Investment in APA Corporation (NASDAQ:APA)

Clear Creek Financial Management LLC purchased a new position in APA Corporation (NASDAQ:APA) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 14,030 shares of the company’s stock, valued at approximately $295,000.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of APA by 6.9% during the fourth quarter. Invesco Ltd. now owns 13,230,751 shares of the company’s stock worth $305,498,000 after purchasing an additional 850,052 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of APA by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock worth $297,540,000 after purchasing an additional 894,574 shares during the period. Geode Capital Management LLC lifted its holdings in shares of APA by 2.2% during the fourth 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 period. Dimensional Fund Advisors LP lifted its holdings in shares of APA by 33.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company’s stock worth $142,823,000 after purchasing an additional 1,540,055 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of APA by 29.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company’s stock worth $122,328,000 after purchasing an additional 1,195,212 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Down 0.0%

Shares of APA opened at $19.49 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.89 and a current ratio of 0.89. APA Corporation has a one year low of $13.58 and a one year high of $33.41. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 6.16 and a beta of 1.25. The stock has a 50 day moving average price of $17.90 and a 200 day moving average price of $19.78.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.23. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. APA had a return on equity of 23.22% and a net margin of 9.75%. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. Equities research analysts forecast that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA’s dividend payout ratio (DPR) is currently 35.97%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on APA shares. JPMorgan Chase & Co. decreased their price target on APA from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Argus raised APA to a “hold” rating in a report on Friday, May 16th. Morgan Stanley boosted their price objective on APA from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Friday, May 23rd. Barclays cut their price objective on APA from $25.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada cut their price objective on APA from $27.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.72.

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.