APA Corporation $APA Stock Sold by 1834 Investment Advisors Co.

Key Points

• 1834 Investment Advisors reduced its APA stake by 7.3% in the third quarter, selling 23,945 shares and retaining 305,847 shares valued at approximately $12.7 million. Institutional investors collectively own 83.01% of APA.
• Analyst sentiment remains mixed: APA has an average “Hold” rating and a $44.38 consensus price target, despite upgrades from Argus and Benchmark and higher targets from several analysts.
• APA shares recently traded near a 52-week high at $49.15, while the company maintained its $0.25 quarterly dividend and authorized a 40 million-share buyback program.

1834 Investment Advisors Co. reduced its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 7.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,847 shares of the company's stock after selling 23,945 shares during the period. APA accounts for about 1.2% of 1834 Investment Advisors Co.'s holdings, making the stock its 20th biggest position. 1834 Investment Advisors Co. owned about 0.09% of APA worth $12,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vontobel Holding Ltd. lifted its holdings in APA by 2.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 242,211 shares of the company's stock valued at $10,061,000 after purchasing an additional 5,840 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of APA by 5,619.9% during the third quarter. TD Waterhouse Canada Inc. now owns 168,395 shares of the company's stock valued at $7,323,000 after buying an additional 165,451 shares during the period. Howard Capital Management LLC lifted its stake in shares of APA by 52.2% during the third quarter. Howard Capital Management LLC now owns 177,392 shares of the company's stock valued at $7,369,000 after buying an additional 60,854 shares during the period. Annex Advisory Services LLC purchased a new position in shares of APA during the third quarter valued at approximately $229,000. Finally, V Square Quantitative Management LLC boosted its position in APA by 8.2% during the third quarter. V Square Quantitative Management LLC now owns 8,213 shares of the company's stock worth $341,000 after acquiring an additional 625 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Argus upgraded shares of APA from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research report on Wednesday, August 19th. Benchmark increased their price target on APA from $40.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Seaport Research Partners assumed coverage on APA in a report on Thursday, September 3rd. They set a "neutral" rating on the stock. Morgan Stanley raised their price objective on APA from $41.00 to $43.00 and gave the stock an "underweight" rating in a report on Thursday. Finally, UBS Group increased their price objective on shares of APA from $47.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday, October 12th. One equities 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 given a Sell rating to the company's stock. According to MarketBeat, APA presently has an average rating of "Hold" and an average price target of $44.38.

APA Trading Up 4.1%

APA stock opened at $49.15 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 0.82 and a beta of 0.42. The business has a fifty day simple moving average of $43.72 and a 200-day simple moving average of $39.24. APA Corporation has a 52 week low of $21.63 and a 52 week high of $49.26.

APA (NASDAQ:APA - Get Free Report) last issued its earnings results 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). The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same quarter in the previous year, the business posted $0.87 EPS. On average, equities research analysts expect that APA Corporation will post 6.00 EPS for the current year.

APA Dividend Announcement

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

APA announced that its Board of Directors has initiated a share buyback program on Wednesday, September 16th that permits the company to repurchase 40,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

APA Company 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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