Ballentine Partners LLC Takes $417,000 Position in APA Corporation $APA

Key Points

• Ballentine Partners LLC acquired a new stake in APA Corporation valued at approximately $417,000, purchasing 22,806 shares during the second quarter.
• A number of institutional investors increased their holdings in APA, with Fifth Third Bancorp increasing theirs by 98.7% to own 51,924 shares, valued at $950,000.
• APA recently announced a quarterly dividend of $0.25 per share, set to be paid on November 21st, reflecting a 4.1% dividend yield.

Ballentine Partners LLC acquired a new stake in shares of APA Corporation (NASDAQ:APA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,806 shares of the company's stock, valued at approximately $417,000.

Several other hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp increased its holdings in shares of APA by 98.7% during the second quarter. Fifth Third Bancorp now owns 51,924 shares of the company's stock valued at $950,000 after acquiring an additional 25,787 shares in the last quarter. GAMMA Investing LLC boosted its position in APA by 193.8% in the second quarter. GAMMA Investing LLC now owns 37,492 shares of the company's stock valued at $686,000 after buying an additional 24,733 shares during the last quarter. Foundation Resource Management Inc. boosted its position in APA by 24.6% in the second quarter. Foundation Resource Management Inc. now owns 220,040 shares of the company's stock valued at $4,025,000 after buying an additional 43,444 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in APA in the second quarter valued at approximately $49,000. Finally, Farther Finance Advisors LLC boosted its position in APA by 69.3% in the second quarter. Farther Finance Advisors LLC now owns 4,276 shares of the company's stock valued at $78,000 after buying an additional 1,750 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company's stock.

Analyst Upgrades and Downgrades

APA has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on APA from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Cfra Research upgraded APA to a "hold" rating in a research report on Friday, August 8th. Barclays upped their target price on APA from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Stephens began coverage on APA in a research report on Tuesday, August 5th. They issued an "equal weight" rating and a $24.00 target price on the stock. Finally, Roth Capital lowered APA from a "buy" rating to a "neutral" rating and set a $22.00 price objective on the stock. in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $23.78.

APA Stock Up 1.4%

NASDAQ APA opened at $24.69 on Friday. The business has a fifty day moving average price of $21.46 and a 200 day moving average price of $19.25. APA Corporation has a one year low of $13.58 and a one year high of $27.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $8.83 billion, a P/E ratio of 8.26, a P/E/G ratio of 7.03 and a beta of 1.29.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $1.17 EPS. The firm's revenue was down 14.4% compared to the same quarter last year. Research analysts anticipate that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

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

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.

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