NewEdge Advisors LLC Has $3.55 Million Stock Position in APA Corporation $APA

Key Points

• NewEdge Advisors increased its APA position by 69.4% in the first quarter, adding 34,252 shares to hold 83,615 shares valued at approximately $3.55 million. Institutional investors collectively own 83.01% of APA.
• Analyst sentiment remains mixed, with 10 Buy, 15 Hold and 4 Sell ratings; APA has an overall consensus rating of Hold and an average price target of $41.30.
• APA reported quarterly revenue of $2.37 billion and earnings of $1.89 per share, narrowly missing estimates, while declaring a quarterly dividend of $0.25 per share, representing a 2.5% yield.

NewEdge Advisors LLC increased its position in APA Corporation (NASDAQ:APA - Free Report) by 69.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,615 shares of the company's stock after buying an additional 34,252 shares during the period. NewEdge Advisors LLC's holdings in APA were worth $3,549,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management increased its position in APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company's stock worth $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new position in shares of APA in the 1st quarter valued at $28,000. Summit Securities Group LLC raised its position in APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company's stock worth $32,000 after purchasing an additional 710 shares in the last quarter. Camelot Portfolios LLC bought a new position in shares of APA during the 4th quarter worth approximately $37,000. Finally, Global Assets Advisory LLC bought a new position in shares of APA during the first quarter valued at $44,000. 83.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on APA. Morgan Stanley decreased their target price on APA from $44.00 to $41.00 and set an "underweight" rating on the stock in a report on Friday, June 26th. Sanford C. Bernstein upped their price target on shares of APA from $37.00 to $40.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. increased their price objective on shares of APA from $38.00 to $41.00 in a report on Friday, May 8th. UBS Group lowered their price objective on shares of APA from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Wednesday, July 15th. Finally, Roth Capital set a $39.00 target price on shares of APA in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, APA currently has an average rating of "Hold" and a consensus target price of $41.30.

Insider Buying and Selling at APA

In related news, VP Mark D. Maddox sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the sale, the vice president directly owned 66,810 shares of the company's stock, valued at $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.73% of the stock is currently owned by company insiders.

APA Trading Down 1.6%

Shares of APA opened at $39.97 on Thursday. The stock's fifty day simple moving average is $35.28 and its 200-day simple moving average is $35.06. The firm has a market capitalization of $14.00 billion, a PE ratio of 8.45 and a beta of 0.35. APA Corporation has a 12-month low of $19.96 and a 12-month high of $45.66. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. As a group, research analysts predict that APA Corporation will post 5.16 earnings per share for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. APA's payout ratio is currently 21.14%.

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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