Harvest Portfolios Group Inc. Buys 15,001 Shares of APA Corporation $APA

Harvest Portfolios Group Inc. lifted its stake in shares of APA Corporation (NASDAQ:APA) by 19.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,622 shares of the company’s stock after purchasing an additional 15,001 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in APA were worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in APA. TD Private Client Wealth LLC boosted its position in APA by 144.9% in the second 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 in the last quarter. CVA Family Office LLC lifted its stake in shares of APA by 6,096.7% in the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after acquiring an additional 1,829 shares during the last quarter. Whittier Trust Co. boosted 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 valued at $40,000 after acquiring an additional 1,500 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of APA by 1,731.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,363 shares of the company’s stock valued at $43,000 after acquiring an additional 2,234 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in APA during the 2nd quarter worth $49,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BMO Capital Markets increased their target price on APA from $28.00 to $30.00 and gave the company a “market perform” rating in a research report on Monday, October 13th. Mizuho upped their price objective on APA from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Thursday, October 16th. Morgan Stanley dropped their price objective on shares of APA from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their target price on shares of APA from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Wolfe Research boosted their target price on shares of APA from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, APA has a consensus rating of “Hold” and an average price target of $24.11.

APA Stock Up 0.8%

APA stock opened at $23.83 on Friday. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 6.28 and a beta of 1.12. APA Corporation has a 52-week low of $13.58 and a 52-week high of $25.83. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50 day moving average price of $23.39 and a two-hundred day moving average price of $20.36.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. APA had a net margin of 10.53% and a return on equity of 20.98%. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm posted $1.00 EPS. The company’s quarterly revenue was down 16.4% on a year-over-year basis. Equities analysts predict that APA Corporation will post 4.03 EPS for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, October 22nd. APA’s dividend payout ratio (DPR) is presently 33.44%.

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.