APA Corporation $APA Position Boosted by KLCM Advisors Inc.

Key Points

• KLCM Advisors Inc. increased its stake in APA Corporation by 51.5%, now holding over 1 million shares and making APA its 5th largest investment.
• APA Corporation reported a quarterly EPS of $0.87, exceeding analysts' expectations, although its revenue declined by 14.4% year-over-year.
• The company has announced a quarterly dividend of $0.25, reflecting an annualized yield of 4.9%.

KLCM Advisors Inc. increased its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,054,145 shares of the company's stock after purchasing an additional 358,121 shares during the quarter. APA makes up approximately 2.6% of KLCM Advisors Inc.'s portfolio, making the stock its 5th biggest position. KLCM Advisors Inc. owned approximately 0.29% of APA worth $22,158,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in APA. Renaissance Technologies LLC purchased a new stake in APA during the fourth quarter worth approximately $4,043,000. Raymond James Financial Inc. purchased a new stake in APA in the fourth quarter valued at approximately $14,524,000. Belpointe Asset Management LLC purchased a new stake in APA in the fourth quarter valued at approximately $166,000. Canada Post Corp Registered Pension Plan purchased a new stake in APA in the fourth quarter valued at approximately $125,000. Finally, Bridgewater Associates LP lifted its stake in APA by 73.4% in the fourth quarter. Bridgewater Associates LP now owns 461,386 shares of the company's stock valued at $10,653,000 after buying an additional 195,319 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reduced their price objective on APA from $24.00 to $22.00 and set a "sector perform" rating for the company in a research note on Monday, July 14th. Cowen reiterated a "hold" rating on shares of APA in a research note on Thursday, August 7th. Raymond James Financial reiterated an "outperform" rating and issued a $26.00 price objective (up previously from $25.00) on shares of APA in a research note on Tuesday, July 22nd. Susquehanna reduced their price objective on APA from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler upped their price target on APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, APA presently has an average rating of "Hold" and a consensus target price of $23.72.

APA Price Performance

Shares of APA traded down $0.0250 during trading hours on Tuesday, reaching $20.3850. 2,221,696 shares of the company traded hands, compared to its average volume of 8,037,732. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $7.29 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 6.22 and a beta of 1.23. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $29.47. The stock has a fifty day simple moving average of $19.43 and a 200 day simple moving average of $18.93.

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

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 4.9%. APA's dividend payout ratio is 33.44%.

APA Company 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.