Twin Tree Management LP Boosts Stock Position in APA Corporation $APA

Key Points

• Twin Tree Management LP increased its stake in APA Corporation by 216.5% in Q2, owning 99,068 shares valued at approximately $1.81 million.
• Analysts have recently upgraded APA’s stock ratings, with Goldman Sachs moving it from "strong sell" to "hold" and JPMorgan raising the target price from $23.00 to $25.00.
• APA Corporation declared a quarterly dividend of $0.25, representing an annualized yield of 4.3%, payable on November 21st.

Twin Tree Management LP boosted its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 216.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,068 shares of the company's stock after acquiring an additional 67,768 shares during the quarter. Twin Tree Management LP's holdings in APA were worth $1,812,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of APA. Dimensional Fund Advisors LP boosted its holdings in APA by 46.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company's stock valued at $190,876,000 after acquiring an additional 2,894,543 shares during the period. Nuveen LLC purchased a new position in APA during the 1st quarter valued at $22,533,000. Charles Schwab Investment Management Inc. boosted its holdings in APA by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock valued at $292,871,000 after acquiring an additional 1,046,893 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in APA by 2.9% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company's stock valued at $765,964,000 after acquiring an additional 1,029,961 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in APA during the 1st quarter valued at $17,129,000. Hedge funds and other institutional investors own 83.01% of the company's stock.

Analysts Set New Price Targets

APA has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded APA from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Cowen reiterated a "hold" rating on shares of APA in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on APA from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. Barclays upped their target price on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Finally, Stephens assumed coverage on APA in a report on Tuesday, August 5th. They issued an "equal weight" rating and a $24.00 target price for the company. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $24.26.

APA Trading Down 1.0%

APA opened at $23.00 on Friday. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 6.70 and a beta of 1.16. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. APA Corporation has a 12 month low of $13.58 and a 12 month high of $25.83. The stock has a fifty day moving average price of $22.84 and a 200-day moving average price of $19.58.

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

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA's payout ratio is presently 33.44%.

APA 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.

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