240,726 Shares in APA Corporation (NASDAQ:APA) Acquired by Berger Financial Group Inc

Key Points

• Berger Financial Group Inc invested approximately $5.06 million in APA Corporation by acquiring 240,726 shares during the 1st quarter, resulting in ownership of about 0.07% of the company.
• Several institutional investors, including Golden State Wealth Management and Rakuten Securities, significantly increased their holdings in APA, reflecting a growing interest in the company's shares.
• APA Corporation recently declared a quarterly dividend of $0.25 per share, translating to an annualized yield of 5.0%, with a dividend payout ratio of 35.97%.

Berger Financial Group Inc purchased a new position in APA Corporation (NASDAQ:APA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 240,726 shares of the company's stock, valued at approximately $5,060,000. Berger Financial Group Inc owned about 0.07% of APA at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Koss Olinger Consulting LLC boosted its holdings in APA by 271.8% in the first quarter. Koss Olinger Consulting LLC now owns 43,463 shares of the company's stock worth $914,000 after acquiring an additional 31,774 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in APA by 258.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 154,522 shares of the company's stock worth $3,248,000 after acquiring an additional 111,386 shares in the last quarter. Townsquare Capital LLC raised its position in APA by 58.5% in the 1st quarter. Townsquare Capital LLC now owns 14,037 shares of the company's stock valued at $295,000 after purchasing an additional 5,183 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of APA by 76.4% in the 1st quarter. National Bank of Canada FI now owns 154,753 shares of the company's stock valued at $3,253,000 after acquiring an additional 67,032 shares during the last quarter. Finally, 1834 Investment Advisors Co. grew its stake in APA by 33.8% during the 1st quarter. 1834 Investment Advisors Co. now owns 280,285 shares of the company's stock worth $5,892,000 after buying an additional 70,732 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Price Performance

Shares of NASDAQ APA traded down $0.09 during midday trading on Monday, reaching $19.92. The stock had a trading volume of 7,647,188 shares, compared to its average volume of 7,378,491. APA Corporation has a 12-month low of $13.58 and a 12-month high of $29.88. 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 stock has a 50-day moving average of $19.21 and a 200-day moving average of $19.02. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 6.54 and a beta of 1.23.

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

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.0%. APA's dividend payout ratio (DPR) is presently 33.44%.

Analysts Set New Price Targets

A number of brokerages have recently commented on APA. Barclays lifted their price objective on APA from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday. Royal Bank Of Canada cut their price objective on APA from $24.00 to $22.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. UBS Group reissued a "neutral" rating and set a $19.00 target price (up from $18.00) on shares of APA in a research report on Monday, July 14th. Cowen restated a "hold" rating on shares of APA in a research note on Thursday. Finally, Piper Sandler lifted their target price on shares of APA from $19.00 to $21.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, APA has a consensus rating of "Hold" and a consensus price target 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.