27,642 Shares in APA Corporation $APA Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new stake in APA Corporation (NASDAQ:APA) during the 3rd quarter, Holdings Channel reports. The firm bought 27,642 shares of the company’s stock, valued at approximately $671,000.

Several other hedge funds have also made changes to their positions in APA. TD Private Client Wealth LLC raised its position in shares of APA by 144.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock valued at $34,000 after buying an additional 1,104 shares during the period. CVA Family Office LLC increased its stake in APA by 6,096.7% during the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock worth $34,000 after acquiring an additional 1,829 shares during the last quarter. Spire Wealth Management raised its position in APA by 179.6% in the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after purchasing an additional 977 shares during the period. MAI Capital Management lifted its stake in shares of APA by 76.5% in the 2nd quarter. MAI Capital Management now owns 2,134 shares of the company’s stock valued at $39,000 after purchasing an additional 925 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of APA by 214.3% during the 2nd quarter. Whittier Trust Co. now owns 2,200 shares of the company’s stock worth $40,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Price Performance

Shares of APA opened at $25.35 on Wednesday. The company has a market cap of $8.99 billion, a P/E ratio of 6.09, a PEG ratio of 10.75 and a beta of 0.74. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $27.72. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $24.97 and its 200 day moving average price is $23.00.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.74 by $0.19. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. APA had a net margin of 15.49% and a return on equity of 19.86%. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Thursday, January 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, January 22nd. This represents a $1.00 annualized dividend and a yield of 3.9%. APA’s dividend payout ratio is 24.04%.

Analyst Ratings Changes

A number of research analysts have commented on APA shares. Scotiabank upped their target price on shares of APA from $22.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. UBS Group upped their price objective on shares of APA from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Barclays increased their price objective on shares of APA from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 19th. Raymond James Financial reissued an “outperform” rating and issued a $31.00 target price on shares of APA in a research report on Monday, November 24th. Finally, The Goldman Sachs Group raised their price target on APA from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, November 20th. Six analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.59.

APA Company 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.