WBI Investments LLC Invests $1.26 Million in APA Corporation $APA

Key Points

• WBI Investments LLC invested approximately $1.26 million in APA Corporation by acquiring 60,089 shares in the first quarter.
• APA Corporation recently reported earnings per share (EPS) of $0.87, surpassing analysts' expectations of $0.45, with quarterly revenue of $2.18 billion.
• The firm announced a quarterly dividend of $0.25, providing an annualized dividend yield of 4.3%, with a payout ratio of 33.44%.

WBI Investments LLC acquired a new position in shares of APA Corporation (NASDAQ:APA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,089 shares of the company's stock, valued at approximately $1,263,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Focus Partners Wealth boosted its position in shares of APA by 10.6% during the first quarter. Focus Partners Wealth now owns 44,833 shares of the company's stock worth $942,000 after buying an additional 4,297 shares during the period. Bayforest Capital Ltd boosted its position in shares of APA by 1,576.6% during the first quarter. Bayforest Capital Ltd now owns 18,979 shares of the company's stock worth $399,000 after buying an additional 17,847 shares during the period. MBB Public Markets I LLC acquired a new position in shares of APA during the first quarter worth about $322,000. Sciencast Management LP acquired a new position in shares of APA during the first quarter worth about $2,226,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company's stock worth $56,092,000 after buying an additional 806,252 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Price Performance

NASDAQ:APA opened at $23.29 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock's 50 day moving average price is $20.42 and its two-hundred day moving average price is $18.94. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 6.43 and a beta of 1.29. APA Corporation has a 12-month low of $13.58 and a 12-month high of $27.48.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.42. The firm had revenue of $2.18 billion for 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 quarter in the prior year, the company earned $1.17 earnings per share. On average, analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

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

Wall Street Analyst Weigh In

APA has been the subject of several recent research reports. Stephens initiated coverage on APA in a research report on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 price target for the company. Piper Sandler increased their price target on APA from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. increased their price target on APA from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Raymond James Financial reissued an "outperform" rating and set a $28.00 price target (up from $26.00) on shares of APA in a research report on Wednesday. Finally, Roth Capital cut APA from a "buy" rating to a "neutral" rating and set a $22.00 price target for the company. in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, APA currently has a consensus rating of "Hold" and a consensus target price of $23.83.

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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