APA Corporation $APA Shares Purchased by Bokf Na

Key Points

• Bokf Na increased its APA Corporation stake by 23.9% in the third quarter, bringing its holdings to 471,700 shares valued at approximately $19.6 million. Institutional investors own 83.01% of APA’s outstanding stock.
• Analyst sentiment remains mixed: APA has a consensus rating of “Hold” and an average price target of $44.76, despite several firms recently raising their targets or ratings.
• APA reported quarterly revenue of $2.37 billion and earnings of $1.89 per share, slightly below expectations. The company maintains a quarterly dividend of $0.25 per share and authorized a buyback of up to 40 million shares.

Bokf Na raised its holdings in APA Corporation (NASDAQ:APA - Free Report) by 23.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 471,700 shares of the company's stock after buying an additional 91,010 shares during the period. Bokf Na's holdings in APA were worth $19,594,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hollencrest Capital Management increased its position in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company's stock worth $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC bought a new position in APA during the 1st quarter worth approximately $28,000. Compass Financial Management LLC bought a new position in APA during the second quarter worth $33,000. MidFirst Bank acquired a new position in shares of APA in the 2nd quarter valued at about $33,000. Finally, Global Assets Advisory LLC acquired a new position in APA in the first quarter valued at approximately $44,000. 83.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Benchmark increased their target price on shares of APA from $40.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Weiss Ratings raised shares of APA from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, September 17th. Wells Fargo & Company upped their price objective on shares of APA from $50.00 to $51.00 and gave the company an "equal weight" rating in a report on Wednesday, October 14th. Mizuho upped their price objective on shares of APA from $36.00 to $44.00 and gave the company an "underperform" rating in a report on Thursday, October 15th. Finally, Argus raised shares of APA from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.76.

APA Stock Performance

Shares of APA stock opened at $51.11 on Thursday. The firm has a market capitalization of $17.91 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.83 and a beta of 0.42. The firm has a fifty day simple moving average of $45.22 and a two-hundred day simple moving average of $37.31. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. APA Corporation has a 12 month low of $21.63 and a 12 month high of $52.39.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business posted $0.87 earnings per share. Analysts forecast that APA Corporation will post 6.27 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, October 22nd. APA's dividend payout ratio is currently 21.14%.

APA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 16th that allows the company to buy back 40,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Share repurchase plans are generally a sign that the company's leadership believes its shares are undervalued.

APA Company Profile

APA Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company's activities include identifying hydrocarbon resources, drilling and completing wells, operating producing properties, and managing related infrastructure.

APA's principal producing areas include the Permian Basin in the United States and Egypt's Western Desert, where it operates through joint ventures with the Egyptian General Petroleum Corporation.

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