Wealth Alliance Advisory Group LLC Makes New $376,000 Investment in APA Corporation $APA

Key Points

• Wealth Alliance Advisory Group LLC has made a new investment of approximately $376,000 in APA Corporation, acquiring 20,575 shares in the second quarter.
• APA Corporation recently declared a $0.25 quarterly dividend, representing a 4.4% annual yield, with the ex-dividend date set for October 22nd.
• The company's latest quarterly earnings showed an EPS of $0.87, significantly exceeding analysts' expectations of $0.45, although revenue decreased by 14.4% year-over-year.

Wealth Alliance Advisory Group LLC purchased a new position in APA Corporation (NASDAQ:APA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,575 shares of the company's stock, valued at approximately $376,000.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in shares of APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after buying an additional 1,382 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after purchasing an additional 1,288 shares in the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of APA during the fourth quarter valued at about $42,000. SVB Wealth LLC bought a new stake in APA in the first quarter worth about $55,000. Finally, Allworth Financial LP boosted its stake in APA by 122.5% in the first quarter. Allworth Financial LP now owns 3,084 shares of the company's stock valued at $65,000 after acquiring an additional 1,698 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

APA Price Performance

APA stock opened at $22.84 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. APA Corporation has a one year low of $13.58 and a one year high of $27.48. The stock has a market cap of $8.17 billion, a PE ratio of 7.64, a P/E/G ratio of 6.58 and a beta of 1.29. The firm has a 50 day simple moving average of $20.56 and a two-hundred day simple moving average of $18.92.

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 analysts' consensus estimates of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company earned $1.17 EPS. The business's quarterly revenue was down 14.4% compared to the same quarter last year. On average, analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA's payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APA. Barclays increased their target price on shares of APA from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Raymond James Financial reissued an "outperform" rating and set a $28.00 target price (up from $26.00) on shares of APA in a research report on Wednesday. Royal Bank Of Canada reduced their target price on shares of APA from $24.00 to $22.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. Piper Sandler boosted their price target on shares of APA from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Finally, The Goldman Sachs Group boosted their price target on shares of APA from $17.00 to $19.00 and gave the company a "sell" rating in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $23.83.

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.

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