APA Corporation (NASDAQ:APA) Shares Acquired by Lipe & Dalton

Lipe & Dalton boosted its position in APA Corporation (NASDAQ:APA) by 3.5% in the 1st quarter, Holdings Channel reports. The firm owned 23,290 shares of the company’s stock after acquiring an additional 780 shares during the quarter. Lipe & Dalton’s holdings in APA were worth $490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in APA. Dimensional Fund Advisors LP raised its stake in APA by 33.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company’s stock valued at $142,823,000 after purchasing an additional 1,540,055 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in APA in the 4th quarter valued at $30,767,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in APA by 29.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company’s stock valued at $122,328,000 after buying an additional 1,195,212 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in APA in the 4th quarter valued at $19,796,000. Finally, Invesco Ltd. grew its holdings in APA by 6.9% in the 4th quarter. Invesco Ltd. now owns 13,230,751 shares of the company’s stock valued at $305,498,000 after buying an additional 850,052 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APA shares. Barclays set a $21.00 target price on APA and gave the company an “equal weight” rating in a report on Monday, July 7th. Citigroup upped their target price on APA from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, May 19th. UBS Group restated a “neutral” rating and issued a $19.00 target price (up from $18.00) on shares of APA in a report on Monday. Mizuho dropped their target price on APA from $20.00 to $19.00 and set an “underperform” rating for the company in a report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their target price on APA from $23.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, June 16th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.53.

APA Stock Up 1.0%

APA stock traded up $0.20 during mid-day trading on Friday, reaching $19.04. The company had a trading volume of 1,042,645 shares, compared to its average volume of 7,241,790. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 6.08 and a beta of 1.25. The firm has a fifty day simple moving average of $18.61 and a 200 day simple moving average of $19.65. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $33.41.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.23. APA had a return on equity of 23.22% and a net margin of 9.75%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the company earned $0.78 EPS. The business’s quarterly revenue was up 35.1% on a year-over-year basis. Analysts forecast that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.25%. The ex-dividend date is Tuesday, July 22nd. APA’s dividend payout ratio (DPR) is presently 35.97%.

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.