Pacific Heights Asset Management LLC Grows Stock Holdings in APA Corporation (NASDAQ:APA)

Pacific Heights Asset Management LLC lifted its position in APA Corporation (NASDAQ:APA - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the company's stock after buying an additional 50,000 shares during the quarter. Pacific Heights Asset Management LLC owned approximately 0.08% of APA worth $6,306,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in APA by 33.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company's stock valued at $142,823,000 after purchasing an additional 1,540,055 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of APA in the fourth quarter worth $30,767,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of APA by 29.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company's stock worth $122,328,000 after buying an additional 1,195,212 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of APA by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company's stock worth $297,540,000 after buying an additional 894,574 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in APA during the 4th quarter valued at $19,796,000. 83.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APA has been the topic of a number of research reports. Scotiabank dropped their target price on shares of APA from $26.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on shares of APA from $23.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $23.00 price target on shares of APA in a report on Wednesday, March 19th. Raymond James Financial reiterated an "outperform" rating and issued a $25.00 price objective (up previously from $23.00) on shares of APA in a research note on Friday, May 30th. Finally, Mizuho lowered their price objective on shares of APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $24.83.

APA Trading Down 0.6%

APA stock traded down $0.12 during mid-day trading on Monday, reaching $19.41. 6,745,157 shares of the stock traded hands, compared to its average volume of 7,198,677. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.89 and a current ratio of 0.89. APA Corporation has a one year low of $13.58 and a one year high of $33.41. The stock has a market capitalization of $7.02 billion, a PE ratio of 6.98, a PEG ratio of 6.18 and a beta of 1.25. The business has a 50-day moving average price of $18.02 and a two-hundred day moving average price of $19.75.

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

APA Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date is Tuesday, July 22nd. APA's dividend payout ratio (DPR) is presently 35.97%.

APA Company 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.