Engineers Gate Manager LP Invests $1.47 Million in APA Corporation $APA

Key Points

• Engineers Gate Manager LP acquired 45,070 APA shares worth approximately $1.47 million during the second quarter. Institutional investors and hedge funds collectively own 83.01% of APA.
• APA authorized a buyback of up to 40 million shares and maintained its quarterly dividend at $0.25 per share, representing a 2.2% annualized yield.
• APA slightly missed quarterly earnings and revenue expectations, while analysts hold a consensus “Hold” rating with an average price target of $42.97.

Engineers Gate Manager LP bought a new stake in APA Corporation (NASDAQ:APA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 45,070 shares of the company's stock, valued at approximately $1,468,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in APA by 9.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,206 shares of the company's stock worth $104,000 after buying an additional 285 shares during the period. Altshuler Shaham Ltd lifted its holdings in APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company's stock worth $52,000 after buying an additional 330 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in APA by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company's stock valued at $2,609,000 after buying an additional 375 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in APA by 1.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company's stock valued at $689,000 after buying an additional 396 shares during the last quarter. Finally, Waverly Advisors LLC grew its stake in shares of APA by 4.3% during the second quarter. Waverly Advisors LLC now owns 9,849 shares of the company's stock valued at $321,000 after acquiring an additional 405 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

Shares of APA stock opened at $45.46 on Friday. The firm has a market cap of $15.93 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 0.79 and a beta of 0.37. The firm's 50-day simple moving average is $39.94 and its 200-day simple moving average is $37.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. APA Corporation has a 1 year low of $21.63 and a 1 year high of $47.44.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same period in the previous year, the business posted $0.87 EPS. Equities analysts forecast that APA Corporation will post 5.7 earnings per share for the current fiscal year.

APA announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 16th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, October 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 2.2%. The ex-dividend date of this dividend is Thursday, October 22nd. APA's dividend payout ratio (DPR) is currently 21.14%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on APA shares. Roth Capital set a $39.00 target price on APA in a research report on Thursday, August 6th. Stephens raised their price objective on APA from $43.00 to $47.00 in a research note on Wednesday, June 10th. UBS Group raised their price objective on APA from $41.00 to $47.00 and gave the company a "neutral" rating in a research note on Monday. Wells Fargo & Company lifted their price objective on APA from $49.00 to $50.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 2nd. Finally, Zacks Research lowered APA from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, APA presently has a consensus rating of "Hold" and a consensus target price of $42.97.

More APA News

Here are the key news stories impacting APA this week:

• Positive Sentiment: APA maintained its quarterly dividend at $0.25 per share, equivalent to an annualized $1.00 and an indicated yield of approximately 2.2%. The dividend is payable November 23 to shareholders of record October 22. APA Keeps Quarterly Dividend at $0.25 a Share; Approves Additional Buyback Authorization
• Positive Sentiment: Technical analysts said APA may have broken above longstanding resistance near $45, potentially signaling that selling pressure is easing and a new uptrend is developing. The stock also recently reached a new 52-week high, reinforcing the positive momentum narrative. Stock of the Day: Did APA Corporation Break Major Resistance?
• Positive Sentiment: Zacks highlighted APA as a potentially strong growth stock, which may attract growth, value and momentum-oriented investors. Here's Why APA Is a Strong Growth Stock
• Neutral Sentiment: Brokers issued updated forecasts for APA’s fourth-quarter earnings, but the available report does not provide enough detail to determine whether the revisions are favorable or unfavorable. Brokers Issue Forecasts for APA's Q4 Earnings
• Negative Sentiment: APA recently underperformed the broader market, declining 5.53% in the prior session. That weakness may reflect profit-taking or broader energy-sector pressure and remains a near-term risk despite the subsequent recovery. Here's Why APA Fell More Than the Broader Market

About APA

APA Corporation NASDAQ: APA is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates through subsidiaries and manages upstream assets spanning exploration, drilling, production and related field-development activities.

APA's principal producing operations are in the Permian Basin of the United States and in Egypt. The company has also pursued offshore exploration opportunities in Suriname, where it has participated in drilling and appraisal activities in the country's offshore blocks.

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