Del Sette Capital Management LLC Invests $3.35 Million in APA Corporation $APA

Key Points

• Del Sette Capital Management purchased 136,738 shares of APA in Q4 worth about $3.345 million, representing ~2.1% of its portfolio and making APA its 19th-largest holding, while institutional investors own roughly 83% of the company.
• Director Matthew Regis Bob sold 23,000 shares on March 18 for about $833,290, cutting his stake by 77.61% to 6,634 shares; insiders now own just 0.73% of APA.
• Several analysts have recently raised price targets (e.g., Susquehanna to $47, RBC to $45) and some firms upgraded ratings, but the consensus remains a “Hold” with a $39.50 target; APA also declared a $0.25 quarterly dividend (annualized $1.00, ~2.5% yield).

Del Sette Capital Management LLC purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 136,738 shares of the company's stock, valued at approximately $3,345,000. APA comprises about 2.1% of Del Sette Capital Management LLC's portfolio, making the stock its 19th largest position.

Other large investors have also modified their holdings of the company. Deseret Mutual Benefit Administrators grew its stake in shares of APA by 276.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company's stock worth $29,000 after acquiring an additional 891 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of APA during the third quarter worth about $34,000. Camelot Portfolios LLC purchased a new stake in shares of APA during the fourth quarter worth about $37,000. Spire Wealth Management grew its stake in shares of APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company's stock worth $37,000 after acquiring an additional 977 shares during the last quarter. Finally, Community Bank N.A. purchased a new stake in shares of APA during the third quarter worth about $43,000. Hedge funds and other institutional investors own 83.01% of the company's stock.

Insider Transactions at APA

In other APA news, Director Matthew Regis Bob sold 23,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the transaction, the director directly owned 6,634 shares of the company's stock, valued at approximately $240,349.82. The trade was a 77.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on APA shares. Susquehanna boosted their price target on APA from $37.00 to $47.00 and gave the stock a "positive" rating in a research note on Tuesday, April 21st. Scotiabank boosted their price target on APA from $26.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada boosted their price target on APA from $29.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 8th. Wall Street Zen raised APA from a "hold" rating to a "buy" rating in a report on Saturday, April 25th. Finally, Zacks Research raised APA from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $39.50.

APA Trading Down 1.5%

APA stock opened at $40.13 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61. APA Corporation has a 52 week low of $15.20 and a 52 week high of $45.66. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 10.06 and a beta of 0.38. The stock has a 50-day moving average price of $36.77 and a 200 day moving average price of $29.07.

APA (NASDAQ:APA - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.29. APA had a return on equity of 19.89% and a net margin of 15.55%.The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company's revenue was down 26.6% compared to the same quarter last year. Sell-side analysts anticipate that APA Corporation will post 4.83 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. APA's payout ratio is presently 25.06%.

About APA

APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

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