Exchange Traded Concepts LLC Boosts Holdings in APA Corporation $APA

Exchange Traded Concepts LLC grew its stake in APA Corporation (NASDAQ:APA - Free Report) by 1,783.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,258 shares of the company's stock after purchasing an additional 181,101 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.05% of APA worth $6,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Altshuler Shaham Ltd lifted its stake in APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company's stock valued at $52,000 after buying an additional 330 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in APA by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company's stock worth $2,609,000 after buying an additional 375 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in APA by 1.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company's stock worth $689,000 after buying an additional 396 shares in the last quarter. Fortitude Family Office LLC increased its stake in APA by 37.9% during the 2nd quarter. Fortitude Family Office LLC now owns 1,489 shares of the company's stock worth $48,000 after buying an additional 409 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company's stock valued at $358,000 after acquiring an additional 461 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.

Insider Transactions at APA

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

APA Price Performance

NASDAQ:APA opened at $40.00 on Friday. APA Corporation has a one year low of $19.96 and a one year high of $45.66. The stock has a market cap of $14.01 billion, a PE ratio of 8.46 and a beta of 0.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50 day moving average price of $35.31 and a 200 day moving average price of $35.16.

APA (NASDAQ:APA - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the previous year, the company earned $0.87 earnings per share. Equities research analysts expect that APA Corporation will post 5.25 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. APA's dividend payout ratio is currently 21.14%.

Wall Street Analysts Forecast Growth

APA has been the subject of several research reports. Morgan Stanley dropped their price target on APA from $44.00 to $41.00 and set an "underweight" rating for the company in a research report on Friday, June 26th. Weiss Ratings upgraded APA from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday. Wall Street Zen cut shares of APA from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. UBS Group dropped their target price 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. Finally, Stephens increased their target price on shares of APA from $43.00 to $47.00 in a research report on Wednesday, June 10th. Nine investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $41.30.

APA 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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