Malaga Cove Capital LLC Has $1.20 Million Stake in APA Corporation (NASDAQ:APA)

Key Points

• Malaga Cove Capital LLC increased its stake in APA Corporation by 46.8%, owning 57,195 shares valued at approximately $1.20 million.
• Institutional investors hold 83.01% of APA's stock, indicating strong backing from large financial entities.
• Analysts have mixed ratings on APA, with forecasts ranging from a "sell" to an "outperform," reflecting varied expectations for the company's performance.

Malaga Cove Capital LLC boosted its holdings in APA Corporation (NASDAQ:APA - Free Report) by 46.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,195 shares of the company's stock after buying an additional 18,231 shares during the period. Malaga Cove Capital LLC's holdings in APA were worth $1,202,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of APA. Golden State Wealth Management LLC raised its stake in APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after buying an additional 1,382 shares during the period. Rakuten Securities Inc. increased its holdings in shares of APA by 499.2% in the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after acquiring an additional 1,288 shares in the last quarter. Siemens Fonds Invest GmbH bought a new stake in shares of APA in the fourth quarter worth about $42,000. LRI Investments LLC acquired a new stake in shares of APA during the fourth quarter worth about $44,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of APA during the 4th quarter valued at about $55,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on APA from $21.00 to $20.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Mizuho reduced 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. Scotiabank reissued a "sector perform" rating and set a $22.00 price objective (up previously from $14.00) on shares of APA in a research report on Friday, July 11th. Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 price objective (up from $25.00) on shares of APA in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, APA has an average rating of "Hold" and an average target price of $23.50.

APA Stock Performance

APA opened at $18.46 on Friday. The business's 50-day simple moving average is $18.99 and its 200 day simple moving average is $19.30. APA Corporation has a 52-week low of $13.58 and a 52-week high of $30.74. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $6.68 billion, a PE ratio of 6.64, a PEG ratio of 6.30 and a beta of 1.22.

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

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.4%. APA's dividend payout ratio is 35.97%.

APA Profile

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.

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