APA Corporation $APA Shares Sold by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group reduced its APA position by 14.6% in the third quarter, selling 20,998 shares and retaining 122,838 shares valued at $5.1 million. Hedge funds and other institutions own approximately 83% of APA.
• APA reported quarterly revenue of $2.37 billion and earnings of $1.89 per share, slightly missing analyst expectations. The company also authorized a 40 million-share buyback and declared a quarterly dividend of $0.25 per share, representing a 2.0% annualized yield.
• Analyst sentiment remains mixed: Susquehanna raised its target to $58 with a positive rating, while the broader analyst consensus is “Hold” with a $44.76 target price. APA shares were recently trading near $49.90, close to their 52-week high.

CWA Asset Management Group LLC trimmed its position in APA Corporation (NASDAQ:APA - Free Report) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,838 shares of the company's stock after selling 20,998 shares during the quarter. CWA Asset Management Group LLC's holdings in APA were worth $5,103,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in APA. Parkside Financial Bank & Trust grew its position in shares of APA by 9.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,206 shares of the company's stock worth $104,000 after buying an additional 285 shares in the last quarter. Altshuler Shaham Ltd raised its holdings in shares of APA by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company's stock valued at $52,000 after acquiring an additional 330 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of APA by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company's stock valued at $2,609,000 after acquiring an additional 375 shares in the last quarter. Waverly Advisors LLC lifted its stake in APA by 4.3% in the second quarter. Waverly Advisors LLC now owns 9,849 shares of the company's stock worth $321,000 after acquiring an additional 405 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in APA by 37.9% in the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company's stock worth $48,000 after acquiring an additional 409 shares during the period. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Up 0.3%

Shares of APA stock opened at $49.90 on Wednesday. The stock's fifty day moving average price is $44.08 and its 200 day moving average price is $39.32. APA Corporation has a 1-year low of $21.63 and a 1-year high of $50.43. The company has a market cap of $17.48 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.83 and a beta of 0.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95.

APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the company earned $0.87 earnings per share. On average, research analysts expect that APA Corporation will post 6.00 earnings per share for the current fiscal year.

APA declared that its board has initiated a stock buyback plan on Wednesday, September 16th that authorizes the company to buy back 40,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

APA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on APA shares. Susquehanna raised their target price on shares of APA from $47.00 to $58.00 and gave the company a "positive" rating in a research report on Tuesday. Mizuho boosted their price target on shares of APA from $36.00 to $44.00 and gave the company an "underperform" rating in a report on Thursday, October 15th. Stephens reaffirmed an "equal weight" rating and issued a $49.00 price target on shares of APA in a research report on Friday, October 9th. UBS Group upped their price target on shares of APA from $47.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, October 12th. Finally, Wells Fargo & Company increased their price objective on shares of APA from $50.00 to $51.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, APA currently has a consensus rating of "Hold" and a consensus target price of $44.76.

Key Stories Impacting APA

Here are the key news stories impacting APA this week:

• Positive Sentiment: Susquehanna raised its price target for APA from $47 to $58 and upgraded its rating to “positive.” The new target implies approximately 16% upside from the referenced price, providing a bullish catalyst for the shares.
• Positive Sentiment: Rising earnings estimates are supporting the stock’s near-term outlook. Zacks said upward estimate revisions could help APA continue gaining, while its momentum analysis identified the company as a potential candidate for momentum-focused investors. Earnings Estimates Rising for APA: Will It Gain? APA Is a Great Momentum Stock
• Positive Sentiment: APA recently outperformed the broader market in a trading session, reinforcing the stock’s strong momentum. APA Surpasses Market Returns
• Neutral Sentiment: Analysts tracked by American Banking News have an average target price of $44.38, below the referenced market price. This contrasts with Susquehanna’s more bullish $58 target and highlights significant disagreement in the analyst outlook. APA Stock Has Average Target Price of $44.38
• Neutral Sentiment: A dividend-focused article lists stocks going ex-dividend this week, but the provided report does not establish a specific new dividend catalyst for APA. Five Dividend Stocks Going Ex-Dividend This Week

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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