Entropy Technologies LP Buys Shares of 71,555 APA Corporation $APA

Entropy Technologies LP acquired a new stake 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 acquired 71,555 shares of the company's stock, valued at approximately $3,037,000.

A number of other large investors have also recently bought and sold shares of the business. Hollencrest Capital Management grew its holdings in APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company's stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of APA in the first quarter valued at approximately $28,000. Summit Securities Group LLC lifted its stake in shares of APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company's stock worth $32,000 after buying an additional 710 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in shares of APA in the fourth quarter worth $37,000. Finally, Global Assets Advisory LLC bought a new stake in shares of APA during the 1st quarter worth $44,000. 83.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on APA shares. UBS Group decreased their price target on shares of APA from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Wednesday, July 15th. Scotiabank boosted their price objective on APA from $26.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. BMO Capital Markets decreased their target price on APA from $47.00 to $45.00 and set a "market perform" rating for the company in a research note on Wednesday, May 13th. Weiss Ratings downgraded APA from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada upped their target price on shares of APA from $29.00 to $45.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, APA currently has a consensus rating of "Hold" and a consensus target price of $40.35.

Insider Activity

In other APA news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares of the company's stock, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.73% of the company's stock.

APA Stock Down 0.7%

NASDAQ APA opened at $36.15 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average is $35.56 and its two-hundred day moving average is $33.91. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 8.43 and a beta of 0.35. APA Corporation has a 1-year low of $17.86 and a 1-year high of $45.66.

APA (NASDAQ:APA - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.APA's quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 EPS. Equities analysts forecast that APA Corporation will post 4.92 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, July 22nd. APA's dividend payout ratio is currently 23.31%.

APA Company Profile

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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