Pacific Heights Asset Management LLC Buys 50,000 Shares of APA Corporation (NASDAQ:APA)

Pacific Heights Asset Management LLC boosted its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 20.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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.

Other large investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its position in shares of APA by 22.1% in the first quarter. D.A. Davidson & CO. now owns 25,785 shares of the company's stock worth $542,000 after purchasing an additional 4,672 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of APA by 8.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 34,347 shares of the company's stock worth $722,000 after purchasing an additional 2,620 shares during the period. Teacher Retirement System of Texas bought a new position in shares of APA in the first quarter worth approximately $1,137,000. Lodestone Wealth Management LLC boosted its position in shares of APA by 20.7% in the first quarter. Lodestone Wealth Management LLC now owns 74,915 shares of the company's stock worth $1,575,000 after purchasing an additional 12,861 shares during the period. Finally, Clear Creek Financial Management LLC bought a new position in shares of APA in the first quarter worth approximately $295,000. 83.01% of the stock is currently owned by institutional investors.

APA Trading Down 0.9%

NASDAQ:APA traded down $0.19 during mid-day trading on Monday, hitting $19.35. 2,106,095 shares of the stock traded hands, compared to its average volume of 7,181,133. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.81. APA Corporation has a 52 week low of $13.58 and a 52 week high of $33.41. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 6.18 and a beta of 1.25. The firm's 50 day moving average is $17.97 and its two-hundred day moving average is $19.76.

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, topping analysts' consensus estimates of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm's revenue for the quarter was up 35.1% on a year-over-year basis. On average, equities research analysts predict that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's dividend payout ratio (DPR) is currently 35.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group reissued a "sell" rating and issued a $23.00 target price on shares of APA in a report on Wednesday, March 19th. Morgan Stanley boosted their target price on shares of APA from $20.00 to $21.00 and gave the stock an "underweight" rating in a report on Friday, May 23rd. Scotiabank lowered 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. lowered their target price on shares of APA from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Finally, Argus raised shares of APA to a "hold" rating in a report on Friday, May 16th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, APA presently has an average rating of "Hold" and a consensus target price of $24.83.

About APA

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.