Gibraltar Capital Management Inc. Acquires 24,583 Shares of APA Corporation (NASDAQ:APA)

Gibraltar Capital Management Inc. grew its stake in APA Corporation (NASDAQ:APA - Free Report) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,033 shares of the company's stock after purchasing an additional 24,583 shares during the quarter. Gibraltar Capital Management Inc. owned approximately 0.07% of APA worth $5,024,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. US Bancorp DE increased its position in shares of APA by 2.2% during the fourth quarter. US Bancorp DE now owns 47,719 shares of the company's stock valued at $1,102,000 after acquiring an additional 1,010 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of APA by 263.2% during the fourth quarter. Jones Financial Companies Lllp now owns 11,499 shares of the company's stock valued at $266,000 after acquiring an additional 8,333 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of APA by 12.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,415,364 shares of the company's stock valued at $32,681,000 after acquiring an additional 154,040 shares during the last quarter. Atria Investments Inc increased its position in shares of APA by 1.9% during the fourth quarter. Atria Investments Inc now owns 56,545 shares of the company's stock valued at $1,306,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of APA during the fourth quarter valued at approximately $1,442,000. Institutional investors own 83.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup increased their price target on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Barclays set a $21.00 target price on APA and gave the stock an "equal weight" rating in a research report on Monday. Wells Fargo & Company decreased their target price on APA from $23.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, June 16th. Susquehanna decreased their target price on APA from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, Raymond James Financial reissued an "outperform" rating and issued a $25.00 target price (up from $23.00) on shares of APA in a research report on Friday, May 30th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $24.83.

APA Stock Performance

Shares of APA stock traded up $1.09 during trading hours on Tuesday, reaching $20.50. The company had a trading volume of 8,220,566 shares, compared to its average volume of 7,219,912. APA Corporation has a one year low of $13.58 and a one year high of $33.41. The business has a fifty day simple moving average of $18.02 and a 200 day simple moving average of $19.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $7.41 billion, a PE ratio of 4.83, a price-to-earnings-growth ratio of 6.29 and a beta of 1.25.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.17 billion. APA had a return on equity of 23.22% and a net margin of 9.75%. The firm's quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. On average, analysts anticipate that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's dividend payout ratio is 35.97%.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.