APA Corporation $APA Shares Purchased by Howard Capital Management LLC

Key Points

• Howard Capital Management increased its APA stake by 52.2% in the third quarter, bringing its holdings to 177,392 shares valued at approximately $7.4 million. Institutional investors and hedge funds collectively own 83.01% of APA.
• APA shares recently traded at $49.15, near their 12-month high of $49.26, with the stock’s 50-day and 200-day moving averages at $43.72 and $39.24, respectively.
• APA authorized a 40 million-share buyback and declared a quarterly dividend of $0.25, equivalent to a 2.0% annual yield. Despite several bullish analyst upgrades, the stock carries a consensus “Hold” rating with an average price target of $44.38.

Howard Capital Management LLC lifted its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 52.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,392 shares of the company's stock after buying an additional 60,854 shares during the period. Howard Capital Management LLC owned approximately 0.05% of APA worth $7,369,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Annex Advisory Services LLC acquired a new position in APA during the 3rd quarter worth $229,000. V Square Quantitative Management LLC grew its stake in shares of APA by 8.2% in the third quarter. V Square Quantitative Management LLC now owns 8,213 shares of the company's stock worth $341,000 after purchasing an additional 625 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of APA by 3.7% in the third quarter. State of Alaska Department of Revenue now owns 119,451 shares of the company's stock worth $4,962,000 after purchasing an additional 4,295 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of APA in the third quarter worth $210,000. Finally, B.A. Schrock Wealth Management Inc. acquired a new position in shares of APA during the third quarter valued at $317,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Price Performance

NASDAQ APA traded up $1.92 on Friday, reaching $49.15. 6,325,180 shares of the stock traded hands, compared to its average volume of 5,669,751. APA Corporation has a 12 month low of $21.63 and a 12 month high of $49.26. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 0.79 and a beta of 0.42. The firm's fifty day simple moving average is $43.72 and its 200 day simple moving average is $39.24. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%. During the same period in the prior year, the firm posted $0.87 EPS. As a group, research analysts predict that APA Corporation will post 6.00 EPS for the current fiscal year.

APA announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Share repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

APA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APA. Weiss Ratings upgraded shares of APA from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, September 17th. Susquehanna increased their target price on shares of APA from $45.00 to $47.00 and gave the company a "positive" rating in a research report on Tuesday, August 11th. Argus upgraded shares of APA from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Wednesday, August 19th. Stephens reissued an "equal weight" rating and set a $49.00 target price on shares of APA in a research note on Friday, October 9th. Finally, UBS Group raised their target price on shares of APA from $47.00 to $52.00 and gave the company a "neutral" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, APA presently has a consensus rating of "Hold" and an average target price of $44.38.

APA Profile

APA Corporation NASDAQ: APA 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 prospective resources, drilling and completing wells, and managing producing assets across multiple international markets.

APA's operations have historically been concentrated in the Permian Basin of the United States and in Egypt's Western Desert, where it participates in exploration and production activities through joint ventures.

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