Friedenthal Financial Makes New $938,000 Investment in APA Corporation $APA

Key Points

• Friedenthal Financial opened a new position in APA, buying 38,336 shares valued at about $938,000 during the fourth quarter, according to its Form 13F filing.
• Analysts hold a consensus rating of Hold with an average price target of $38.65, despite mixed firm-level views and several recent price-target increases (e.g., Morgan Stanley to $43).
• APA reported Q4 EPS of $0.91 (above estimates of $0.62) and announced a quarterly dividend of $0.25 (annualized $1.00, ~2.8% yield), though revenue fell about 26.6% year-over-year.

Friedenthal Financial purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 38,336 shares of the company's stock, valued at approximately $938,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC raised its stake in shares of APA by 3.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company's stock worth $358,000 after purchasing an additional 461 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of APA by 5.3% during the 4th quarter. Merit Financial Group LLC now owns 19,122 shares of the company's stock worth $468,000 after purchasing an additional 957 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of APA by 17.1% during the 4th quarter. Farther Finance Advisors LLC now owns 5,385 shares of the company's stock worth $132,000 after purchasing an additional 785 shares in the last quarter. Sunpointe LLC raised its stake in shares of APA by 76.8% during the 4th quarter. Sunpointe LLC now owns 25,986 shares of the company's stock worth $636,000 after purchasing an additional 11,292 shares in the last quarter. Finally, Howard Capital Management Inc. raised its position in APA by 12.7% during the fourth quarter. Howard Capital Management Inc. now owns 106,886 shares of the company's stock worth $2,614,000 after acquiring an additional 12,038 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APA. Morgan Stanley upped their price target on shares of APA from $22.00 to $43.00 and gave the stock an "underweight" rating in a research report on Friday, March 27th. The Goldman Sachs Group boosted their price objective on shares of APA from $29.00 to $30.00 and gave the stock a "sell" rating in a research note on Monday, March 23rd. Zacks Research upgraded shares of APA from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Jefferies Financial Group boosted their price objective on shares of APA from $26.00 to $36.00 and gave the stock a "hold" rating in a research note on Monday, April 13th. Finally, Bank of America boosted their price objective on shares of APA from $23.00 to $27.00 and gave the stock an "underperform" rating in a research note on Monday, March 16th. Seven research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $38.65.

APA Stock Performance

Shares of NASDAQ:APA opened at $35.74 on Friday. The company's 50 day moving average price is $34.86 and its two-hundred day moving average price is $28.21. APA Corporation has a 12-month low of $15.15 and a 12-month high of $45.66. The firm has a market cap of $12.63 billion, a PE ratio of 8.96 and a beta of 0.49. 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 (NASDAQ:APA - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.29. APA had a net margin of 15.55% and a return on equity of 19.89%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The business's revenue was down 26.6% compared to the same quarter last year. Equities research analysts predict that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA's dividend payout ratio is 25.06%.

Insider Activity at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the firm's stock in a transaction 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 transaction, the director owned 6,634 shares in the company, valued at approximately $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company's stock.

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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