Arkadios Wealth Advisors Has $708,000 Stock Holdings in APA Corporation (NASDAQ:APA)

Key Points

• Arkadios Wealth Advisors increased its stake in APA Corporation by 68.4% after purchasing an additional 13,673 shares, bringing its total holdings to 33,672 shares valued at approximately $708,000.
• APA Corporation reported a quarterly earnings per share of $1.06, exceeding analysts' estimates of $0.83, with revenues reaching $2.61 billion, up 35.1% from the same quarter last year.
• The company also announced a quarterly dividend of $0.25 per share, which will yield 5.4%, demonstrating a dividend payout ratio of 35.97%.

Arkadios Wealth Advisors lifted its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 68.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,672 shares of the company's stock after acquiring an additional 13,673 shares during the quarter. Arkadios Wealth Advisors' holdings in APA were worth $708,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. ProShare Advisors LLC grew its position in APA by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 113,913 shares of the company's stock worth $2,630,000 after buying an additional 449 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in APA by 1.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company's stock worth $1,018,000 after buying an additional 517 shares in the last quarter. Albert D Mason Inc. grew its position in APA by 5.7% during the first quarter. Albert D Mason Inc. now owns 12,261 shares of the company's stock worth $258,000 after buying an additional 657 shares in the last quarter. Greenwood Capital Associates LLC grew its position in APA by 2.7% during the first quarter. Greenwood Capital Associates LLC now owns 28,107 shares of the company's stock worth $591,000 after buying an additional 730 shares in the last quarter. Finally, Lipe & Dalton grew its position in APA by 3.5% during the first quarter. Lipe & Dalton now owns 23,290 shares of the company's stock worth $490,000 after buying an additional 780 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

APA Price Performance

Shares of APA stock traded up $0.48 during midday trading on Friday, reaching $19.94. The company had a trading volume of 7,008,659 shares, compared to its average volume of 8,107,310. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 5.90 and a beta of 1.23. The stock has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $19.13. APA Corporation has a 1-year low of $13.58 and a 1-year high of $29.88.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 21.46%. APA's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. As a group, equities research analysts forecast that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's payout ratio is currently 35.97%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on APA shares. Mizuho cut their price target on shares of APA from $20.00 to $19.00 and set an "underperform" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial restated an "outperform" rating and set a $26.00 price target (up previously from $25.00) on shares of APA in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on shares of APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Cowen restated a "hold" rating on shares of APA in a research note on Thursday. Finally, Scotiabank restated a "sector perform" rating and set a $22.00 price target (up previously from $14.00) on shares of APA in a research note on Friday, July 11th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, APA presently has an average rating of "Hold" and an average target price of $23.59.

About APA

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.