Hussman Strategic Advisors Inc. Makes New Investment in APA Corporation $APA

Hussman Strategic Advisors Inc. bought a new position in APA Corporation (NASDAQ:APA) in the third quarter, Holdings Channel reports. The institutional investor bought 63,000 shares of the company’s stock, valued at approximately $1,530,000.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its holdings in shares of APA by 19.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,349 shares of the company’s stock valued at $61,000 after purchasing an additional 550 shares during the period. Wealthfront Advisers LLC grew its stake in shares of APA by 0.6% in the 2nd quarter. Wealthfront Advisers LLC now owns 104,858 shares of the company’s stock valued at $1,918,000 after buying an additional 612 shares during the period. Turtle Creek Wealth Advisors LLC increased its holdings in shares of APA by 1.5% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 44,194 shares of the company’s stock worth $808,000 after buying an additional 638 shares during the last quarter. Marco Investment Management LLC increased its holdings in shares of APA by 1.2% during the 2nd quarter. Marco Investment Management LLC now owns 55,573 shares of the company’s stock worth $1,016,000 after buying an additional 662 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of APA by 1.1% during the 2nd quarter. TD Asset Management Inc now owns 65,835 shares of the company’s stock valued at $1,204,000 after buying an additional 698 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on APA shares. William Blair began coverage on APA in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 price objective for the company. Barclays set a $24.00 price target on APA in a report on Wednesday, January 21st. Morgan Stanley reduced their price objective on shares of APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Friday, January 23rd. Mizuho upped their target price on shares of APA from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Friday, December 12th. Finally, Scotiabank increased their target price on shares of APA from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, APA presently has a consensus rating of “Hold” and a consensus target price of $26.35.

APA Price Performance

APA opened at $26.01 on Thursday. The stock’s 50-day moving average price is $25.14 and its 200 day moving average price is $23.22. APA Corporation has a 12-month low of $13.58 and a 12-month high of $27.72. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 12.77 and a beta of 0.74.

APA (NASDAQ:APA) last released its earnings results 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 during the quarter, compared to the consensus estimate of $2.06 billion. APA had a return on equity of 19.86% and a net margin of 15.49%.APA’s revenue was down 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS. As a group, sell-side analysts expect that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Thursday, January 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, January 22nd. APA’s dividend payout ratio is presently 24.04%.

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.