Peak Financial Advisors LLC Invests $480,000 in APA Corporation $APA

Key Points

• Peak Financial Advisors LLC invested approximately $480,000 in APA Corporation, acquiring 26,228 shares during the second quarter.
• Institutional investors now own 83.01% of APA Corporation's stock, indicating strong institutional interest in the company.
• JPMorgan Chase & Co. and Citigroup both raised their target prices for APA stock, reflecting a positive outlook from multiple analysts.

Peak Financial Advisors LLC purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,228 shares of the company's stock, valued at approximately $480,000.

Several other hedge funds have also recently bought and sold shares of the company. Cullen Investment Group LTD. lifted its stake in APA by 5.9% during the 2nd quarter. Cullen Investment Group LTD. now owns 11,497 shares of the company's stock worth $210,000 after acquiring an additional 637 shares in the last quarter. Lynx Investment Advisory acquired a new position in APA during the 1st quarter worth about $415,000. Inspire Investing LLC lifted its stake in APA by 33.3% during the 1st quarter. Inspire Investing LLC now owns 14,959 shares of the company's stock worth $314,000 after acquiring an additional 3,741 shares in the last quarter. Strs Ohio acquired a new position in APA during the 1st quarter worth about $14,735,000. Finally, WBI Investments LLC acquired a new position in APA during the 1st quarter worth about $1,263,000. Institutional investors and hedge funds own 83.01% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Citigroup increased their target price on APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Cfra Research raised APA to a "hold" rating in a research report on Friday, August 8th. Scotiabank reaffirmed a "sector perform" rating and issued a $22.00 price target (up previously from $14.00) on shares of APA in a research report on Friday, July 11th. Finally, The Goldman Sachs Group increased their price target on APA from $17.00 to $19.00 and gave the company a "sell" rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, APA presently has an average rating of "Hold" and an average target price of $23.83.

APA Trading Down 0.6%

APA opened at $22.84 on Friday. APA Corporation has a one year low of $13.58 and a one year high of $27.48. The company has a market cap of $8.17 billion, a P/E ratio of 7.64, a PEG ratio of 6.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The business's 50-day simple moving average is $20.56 and its 200-day simple moving average is $18.92.

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

APA Announces Dividend

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

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.

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