Gotham Asset Management LLC Has $56.01 Million Stock Position in APA Corporation $APA

Gotham Asset Management LLC increased its holdings in shares of APA Corporation (NASDAQ:APA) by 45.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,289,986 shares of the company’s stock after buying an additional 711,266 shares during the period. Gotham Asset Management LLC’s holdings in APA were worth $56,013,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of APA. Camelot Portfolios LLC acquired a new stake in shares of APA in the fourth quarter valued at approximately $37,000. Community Bank N.A. acquired a new position in shares of APA during the 3rd quarter worth approximately $43,000. Cary Street Partners Investment Advisory LLC bought a new stake in APA in the 4th quarter valued at $47,000. Virtus Advisers LLC bought a new stake in APA in the 3rd quarter valued at $57,000. Finally, Elyxium Wealth LLC acquired a new stake in APA during the 4th quarter valued at $64,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

APA has been the topic of several research analyst reports. Raymond James Financial increased their price objective on shares of APA from $45.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on shares of APA from $29.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. Weiss Ratings raised shares of APA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Stephens raised their price objective on shares of APA from $43.00 to $47.00 in a research report on Wednesday, June 10th. Finally, Capital One Financial boosted their price objective on APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.04.

APA Price Performance

Shares of APA stock opened at $33.93 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 7.91 and a beta of 0.33. APA Corporation has a twelve month low of $17.74 and a twelve month high of $45.66. The company has a 50-day simple moving average of $37.84 and a two-hundred day simple moving average of $32.30.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. Analysts forecast that APA Corporation will post 5.59 EPS for the current year.

APA Dividend Announcement

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

Insider Transactions at APA

In other APA news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by insiders.

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.