MGO One Seven LLC Purchases Shares of 14,685 APA Corporation $APA

Key Points

• MGO One Seven LLC acquired 14,685 shares of APA Corporation, valued at approximately $269,000, highlighting significant interest from institutional investors in the company.
• Multiple hedge funds increased their stakes in APA during the 2nd quarter, with CWM LLC growing its holdings by 195.7% and Vanguard Personalized Indexing Management LLC by 47.1%.
• Analysts have mixed ratings on APA stock, with a consensus rating of "Hold" and an average target price of $24.06, despite recent profitability outperforming estimates.

MGO One Seven LLC purchased a new stake in APA Corporation (NASDAQ:APA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,685 shares of the company's stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWM LLC grew its holdings in APA by 195.7% in the 2nd quarter. CWM LLC now owns 38,310 shares of the company's stock valued at $701,000 after buying an additional 25,356 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in APA by 47.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 125,293 shares of the company's stock valued at $2,292,000 after buying an additional 40,107 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in APA in the 2nd quarter valued at about $195,000. Aberdeen Group plc lifted its stake in shares of APA by 14.1% in the 2nd quarter. Aberdeen Group plc now owns 63,496 shares of the company's stock valued at $1,161,000 after purchasing an additional 7,857 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of APA by 57.9% in the 2nd quarter. IFP Advisors Inc now owns 8,071 shares of the company's stock valued at $161,000 after purchasing an additional 2,958 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APA. Piper Sandler lifted their price objective on APA from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Morgan Stanley reduced their price objective on APA from $23.00 to $22.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 14th. Cowen reaffirmed a "hold" rating on shares of APA in a research note on Thursday, August 7th. Wells Fargo & Company lifted their price objective on APA from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. lifted their price objective on APA from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Three equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $24.06.

APA Stock Performance

APA stock opened at $22.52 on Monday. The stock's 50 day moving average price is $22.89 and its 200 day moving average price is $19.59. The firm has a market capitalization of $8.06 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 6.39 and a beta of 1.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. APA Corporation has a one year low of $13.58 and a one year high of $25.83.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.45 by $0.42. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.APA's revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts expect that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.4%. APA's payout ratio is 33.44%.

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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