One Way Holdings LLC Purchases 171,636 Shares of APA Corporation $APA

Key Points

• One Way Holdings LLC acquired 171,636 APA shares worth approximately $7.13 million in the third quarter, while institutional investors collectively own 83.01% of the company.
• Analyst sentiment remains mixed: APA has an average “Hold” rating and an average price target of $44.76, despite several firms raising their targets and issuing bullish upgrades.
• APA authorized a 40-million-share buyback and declared a quarterly dividend of $0.25 per share, equal to an annualized $1.00 dividend and a 1.9% yield.

One Way Holdings LLC acquired a new position in shares of APA Corporation (NASDAQ:APA - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 171,636 shares of the company's stock, valued at approximately $7,130,000.

A number of other large investors also recently added to or reduced their stakes in APA. BlackRock Inc. acquired a new stake in shares of APA in the second quarter valued at about $1,173,231,000. Arrowstreet Capital Limited Partnership raised its position in shares of APA by 1,726.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company's stock worth $205,176,000 after purchasing an additional 4,569,779 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in APA in the 2nd quarter valued at about $134,558,000. Allianz Asset Management GmbH lifted its stake in APA by 240.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,662,794 shares of the company's stock valued at $86,727,000 after buying an additional 1,880,674 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in APA by 55.0% in the 1st quarter. First Trust Advisors LP now owns 4,154,301 shares of the company's stock valued at $176,309,000 after buying an additional 1,473,626 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on APA shares. Benchmark boosted their price objective on APA from $40.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Mizuho increased their target price on APA from $36.00 to $44.00 and gave the company an "underperform" rating in a report on Thursday, October 15th. Royal Bank Of Canada raised their target price on APA from $47.00 to $49.00 and gave the company a "sector perform" rating in a research report on Thursday, October 15th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $43.00 price target on shares of APA in a research note on Monday, September 7th. Finally, Argus upgraded APA from a "hold" rating to a "buy" rating and set a $48.00 price target for the company in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, APA currently has an average rating of "Hold" and an average target price of $44.76.

APA Price Performance

Shares of NASDAQ APA opened at $52.82 on Monday. APA Corporation has a 12-month low of $21.63 and a 12-month high of $52.96. The stock has a market cap of $18.51 billion, a PE ratio of 11.17, a P/E/G ratio of 0.82 and a beta of 0.42. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $45.55 and a 200 day moving average of $37.58.

APA (NASDAQ:APA - Get Free Report) last released 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). The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, sell-side analysts predict that APA Corporation will post 6.46 EPS for the current fiscal year.

APA declared that its Board of Directors has approved a share buyback program on Wednesday, September 16th that authorizes the company to buy back 40,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Thursday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. APA's dividend payout ratio is 21.14%.

APA Company Profile

APA Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company's activities include identifying hydrocarbon resources, drilling and completing wells, operating producing properties, and managing related infrastructure.

APA's principal producing areas include the Permian Basin in the United States and Egypt's Western Desert, where it operates through joint ventures with the Egyptian General Petroleum Corporation.

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