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

Gibraltar Capital Management Inc. increased its position in shares of APA Corporation (NASDAQ:APA - Free Report) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,033 shares of the company's stock after buying an additional 24,583 shares during the period. Gibraltar Capital Management Inc. owned about 0.07% of APA worth $5,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APA. ProShare Advisors LLC increased its position in shares of APA by 0.4% in the 4th quarter. ProShare Advisors LLC now owns 113,913 shares of the company's stock worth $2,630,000 after purchasing an additional 449 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of APA by 1.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company's stock valued at $1,018,000 after buying an additional 517 shares during the period. Albert D Mason Inc. boosted its holdings in shares of APA by 5.7% in the 1st quarter. Albert D Mason Inc. now owns 12,261 shares of the company's stock valued at $258,000 after buying an additional 657 shares during the period. Greenwood Capital Associates LLC boosted its holdings in shares of APA by 2.7% in the 1st quarter. Greenwood Capital Associates LLC now owns 28,107 shares of the company's stock valued at $591,000 after buying an additional 730 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of APA by 3.4% in the 4th quarter. Janus Henderson Group PLC now owns 25,864 shares of the company's stock valued at $597,000 after buying an additional 848 shares during the period. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Stock Down 0.7%

Shares of APA traded down $0.14 during mid-day trading on Wednesday, hitting $20.36. 2,737,811 shares of the company's stock were exchanged, compared to its average volume of 7,202,377. The firm has a fifty day moving average of $18.11 and a two-hundred day moving average of $19.75. APA Corporation has a twelve month low of $13.58 and a twelve month high of $33.41. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 7.33, a P/E/G ratio of 6.29 and a beta of 1.25. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.81.

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

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Tuesday, July 22nd. APA's dividend payout ratio (DPR) is presently 35.97%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Mizuho decreased their price target on shares of APA from $20.00 to $19.00 and set an "underperform" rating for the company in a report on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of APA from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Friday, May 23rd. Citigroup boosted their target price on shares of APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. The Goldman Sachs Group reissued a "sell" rating and set a $23.00 target price on shares of APA in a research note on Wednesday, March 19th. Finally, Barclays set a $21.00 target price on shares of APA and gave the company an "equal weight" rating in a research note on Monday. 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. Based on data from MarketBeat.com, APA currently has a consensus rating of "Hold" and a consensus price target of $24.83.

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.