Archford Capital Strategies LLC Takes $1.08 Million Position in APA Corporation $APA

Key Points

• Archford Capital Strategies LLC has acquired a new position in APA Corporation, purchasing 59,006 shares valued at approximately $1.08 million, according to their recent SEC filing.
• The company's most recent earnings report revealed $0.87 earnings per share, exceeding analysts' expectations, while revenue decreased by 14.4% year-over-year.
• APA Corporation will pay a quarterly dividend of $0.25 on November 21st, with a current annualized yield of 4.1%.

Archford Capital Strategies LLC acquired a new position in shares of APA Corporation (NASDAQ:APA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,006 shares of the company's stock, valued at approximately $1,079,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC boosted its stake in APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after purchasing an additional 1,382 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of APA by 499.2% in the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after purchasing an additional 1,288 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of APA by 144.9% in the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock valued at $34,000 after purchasing an additional 1,104 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in shares of APA during the second quarter worth about $49,000. Finally, SVB Wealth LLC acquired a new position in shares of APA during the first quarter worth about $55,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Performance

NASDAQ APA opened at $24.69 on Monday. The firm has a market capitalization of $8.83 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 7.03 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm's fifty day moving average price is $21.46 and its two-hundred day moving average price is $19.25. APA Corporation has a 1 year low of $13.58 and a 1 year high of $27.48.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. APA's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 EPS. As a group, research analysts anticipate that APA Corporation will post 4.03 EPS for the current year.

APA Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on APA from $22.00 to $23.00 and gave the company an "underweight" rating in a research note on Monday, August 18th. Mizuho lowered their price objective on shares of APA from $19.00 to $18.00 and set an "underperform" rating on the stock in a report on Monday, September 15th. Wells Fargo & Company boosted their price objective on shares of APA from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Friday, August 15th. JPMorgan Chase & Co. raised their target price on shares of APA from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, Scotiabank reiterated a "sector perform" rating and issued a $22.00 price target (up from $14.00) on shares of APA in a research note on Friday, July 11th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $23.78.

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.

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