Berger Financial Group Inc Grows Stake in APA Corporation $APA

Key Points

• Berger Financial Group Inc has increased its stake in APA Corporation by 4.8%, owning 252,186 shares worth approximately $4.61 million as of the latest SEC filing.
• APA Corporation reported better-than-expected earnings of $0.87 per share, exceeding analyst estimates by $0.42, despite experiencing a 14.4% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.25 per share, with a dividend yield of 4.1%, payable on November 21st to investors of record.

Berger Financial Group Inc grew its position in APA Corporation (NASDAQ:APA - Free Report) by 4.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 252,186 shares of the company's stock after buying an additional 11,460 shares during the period. Berger Financial Group Inc owned approximately 0.07% of APA worth $4,612,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in shares of 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 in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after acquiring an additional 1,288 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of APA by 144.9% during 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 during the last quarter. Toth Financial Advisory Corp bought a new position in APA during the second quarter valued at approximately $49,000. Finally, SVB Wealth LLC bought a new position in APA during the first quarter valued at approximately $55,000. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Stock Performance

APA opened at $24.54 on Friday. The company has a 50 day simple moving average of $22.01 and a two-hundred day simple moving average of $19.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $8.78 billion, a P/E ratio of 8.21, a PEG ratio of 6.99 and a beta of 1.16. 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 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. APA had a net margin of 10.53% and a return on equity of 20.98%. The company had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company earned $1.17 EPS. APA's revenue for the quarter was down 14.4% on a year-over-year basis. Equities analysts forecast that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price target on APA from $22.00 to $23.00 and gave the stock an "underweight" rating in a research note on Monday, August 18th. Wells Fargo & Company increased their price objective on shares of APA from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Piper Sandler increased their price target on shares of APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Mizuho dropped their price target on shares of APA from $19.00 to $18.00 and set an "underperform" rating on the stock in a research note on Monday, September 15th. Finally, Cfra Research upgraded APA to a "hold" rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $23.24.

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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