1834 Investment Advisors Co. Acquires 70,732 Shares of APA Corporation (NASDAQ:APA)

Key Points

• 1834 Investment Advisors Co. increased its stake in APA Corporation by 33.8%, owning approximately 280,285 shares worth $5.89 million as of the end of the 1st quarter.
• After recent adjustments, analysts set a consensus rating of "Hold" for APA, with price targets ranging from $19.00 to $24.00.
• APA announced a quarterly dividend of $0.25 per share, yielding 5.5%, to be paid on August 22nd to shareholders of record.

1834 Investment Advisors Co. raised its holdings in APA Corporation (NASDAQ:APA - Free Report) by 33.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280,285 shares of the company's stock after buying an additional 70,732 shares during the quarter. 1834 Investment Advisors Co. owned 0.08% of APA worth $5,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of APA. Charles Schwab Investment Management Inc. grew its holdings in shares of APA by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock worth $292,871,000 after purchasing an additional 1,046,893 shares during the last quarter. Invesco Ltd. grew its holdings in shares of APA by 6.9% in the 4th quarter. Invesco Ltd. now owns 13,230,751 shares of the company's stock worth $305,498,000 after purchasing an additional 850,052 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of APA by 33.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company's stock worth $142,823,000 after purchasing an additional 1,540,055 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 worth $122,328,000 after purchasing an additional 1,195,212 shares during the last quarter. Finally, Northern Trust Corp lifted its position in APA by 7.2% during the 4th quarter. Northern Trust Corp now owns 4,025,421 shares of the company's stock worth $92,947,000 after buying an additional 269,865 shares in the last quarter. Institutional investors own 83.01% of the company's stock.

Wall Street Analyst Weigh In

APA has been the topic of several research reports. Raymond James Financial reiterated an "outperform" rating and set a $26.00 price target (up previously from $25.00) on shares of APA in a research report on Tuesday, July 22nd. UBS Group reiterated a "neutral" rating and set a $19.00 price target (up previously from $18.00) on shares of APA in a research report on Monday, July 14th. Cowen reiterated a "hold" rating on shares of APA in a research report on Thursday. Morgan Stanley upped their price target on shares of APA from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday, May 23rd. Finally, Mizuho reduced their price target on shares of APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, APA has a consensus rating of "Hold" and a consensus target price of $23.59.

APA Trading Up 2.8%

APA stock traded up $0.55 during trading hours on Friday, reaching $20.01. 11,134,808 shares of the company's stock traded hands, compared to its average volume of 7,093,744. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 6.36 and a beta of 1.23. The firm's 50 day moving average is $19.16 and its 200-day moving average is $19.10. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.80. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $29.88.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. APA's revenue for the quarter was down 14.4% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. On average, analysts predict that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, July 22nd. APA's dividend payout ratio (DPR) is currently 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.