Element Capital Management LLC Buys Shares of 41,186 APA Corporation $APA

Element Capital Management LLC acquired a new position in shares of APA Corporation (NASDAQ:APA) during the 4th quarter, Holdings Channel reports. The fund acquired 41,186 shares of the company’s stock, valued at approximately $1,007,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Capital Management of KS Inc. acquired a new position in shares of APA in the third quarter valued at approximately $1,214,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of APA by 57.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 306,195 shares of the company’s stock valued at $7,765,000 after purchasing an additional 111,777 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of APA by 71.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 185,818 shares of the company’s stock valued at $4,437,000 after purchasing an additional 77,125 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of APA by 49.5% during the third quarter. Gotham Asset Management LLC now owns 1,578,720 shares of the company’s stock worth $38,331,000 after buying an additional 522,673 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in shares of APA by 604.4% during the third quarter. Kingsview Wealth Management LLC now owns 208,287 shares of the company’s stock worth $5,057,000 after buying an additional 178,717 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Price Performance

Shares of APA opened at $33.93 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $37.84 and its 200 day simple moving average is $32.30. APA Corporation has a 1-year low of $17.74 and a 1-year high of $45.66. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 7.91 and a beta of 0.33.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 earnings per share. On average, research analysts forecast that APA Corporation will post 5.59 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s payout ratio is 23.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James Financial lifted their target price on APA from $45.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group lifted their price objective on shares of APA from $31.00 to $34.00 and gave the company a “sell” rating in a report on Tuesday, May 19th. Bank of America boosted their price objective on shares of APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a research report on Monday, March 16th. Zacks Research cut shares of APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada raised their target price on shares of APA from $29.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, APA currently has an average rating of “Hold” and a consensus price target of $41.04.

Insider Transactions at APA

In other APA news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the sale, the vice president owned 66,810 shares in the company, valued at $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is owned by corporate insiders.

APA 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.