APA Corporation $APA Shares Purchased by Cwm LLC

Key Points

• Cwm LLC significantly increased its stake in APA Corporation by 195.7% during the second quarter, owning 38,310 shares worth approximately $701,000.
• APA Corporation reported $0.87 EPS for the last quarter, exceeding expectations and indicating a 10.53% net margin.
• The company announced a $0.25 quarterly dividend, with a yield of 4.1%, to be paid to shareholders on November 21st.

Cwm LLC lifted its stake in APA Corporation (NASDAQ:APA - Free Report) by 195.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,310 shares of the company's stock after purchasing an additional 25,356 shares during the period. Cwm LLC's holdings in APA were worth $701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APA. Dimensional Fund Advisors LP lifted its stake in shares of APA by 46.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company's stock valued at $190,876,000 after purchasing an additional 2,894,543 shares during the period. Nuveen LLC acquired a new stake in shares of APA in the first quarter valued at about $22,533,000. Charles Schwab Investment Management Inc. lifted its stake in shares of APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock valued at $292,871,000 after purchasing an additional 1,046,893 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of APA by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company's stock valued at $765,964,000 after purchasing an additional 1,029,961 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of APA in the first quarter valued at about $17,129,000. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Price Performance

APA opened at $24.62 on Friday. The company's 50 day simple moving average is $23.11 and its 200 day simple moving average is $19.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. APA Corporation has a 1 year low of $13.58 and a 1 year high of $25.83. The stock has a market capitalization of $8.81 billion, a PE ratio of 8.23, a P/E/G ratio of 6.38 and a beta of 1.16.

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

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, October 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. APA's dividend payout ratio (DPR) is currently 33.44%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Scotiabank raised their target price on shares of APA from $22.00 to $26.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. JPMorgan Chase & Co. raised their target price on shares of APA from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, October 10th. The Goldman Sachs Group upgraded shares of APA from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Roth Capital lifted their price target on shares of APA from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada lifted their price target on shares of APA from $23.00 to $24.00 and gave the stock a "sector perform" rating in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, APA has an average rating of "Hold" and an average price target of $24.74.

APA Profile

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.

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