Wetzel Investment Advisors Inc. Purchases Shares of 19,750 APA Corporation $APA

Key Points

• Wetzel Investment Advisors Inc. acquired 19,750 shares of APA Corporation during the second quarter, valued at approximately $361,000.
• Analysts have reiterated a "hold" rating on shares of APA, with an average price target increased to $23.24.
• APA Corporation announced a quarterly dividend of $0.25, yielding 4.1%, payable to shareholders of record on October 22nd.

Wetzel Investment Advisors Inc. purchased a new stake in APA Corporation (NASDAQ:APA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,750 shares of the company's stock, valued at approximately $361,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in APA. Golden State Wealth Management LLC increased its position in shares of APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after purchasing an additional 1,382 shares in the last quarter. Rakuten Securities Inc. increased 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 worth $32,000 after purchasing an additional 1,288 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of APA by 144.9% during the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock worth $34,000 after purchasing an additional 1,104 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of APA during the second quarter worth about $49,000. Finally, SVB Wealth LLC acquired a new stake in shares of APA during the first quarter worth about $55,000. Institutional investors and hedge funds own 83.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Cowen reiterated a "hold" rating on shares of APA in a research report on Thursday, August 7th. Cfra Research upgraded APA to a "hold" rating in a research report on Friday, August 8th. Barclays raised their price target on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. The Goldman Sachs Group raised their price target on APA from $17.00 to $19.00 and gave the stock a "sell" rating in a report on Tuesday, August 26th. Finally, UBS Group raised their price target on APA from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, APA has an average rating of "Hold" and an average target price of $23.24.

APA Price Performance

Shares of APA opened at $24.28 on Wednesday. APA Corporation has a twelve month low of $13.58 and a twelve month high of $27.48. The stock's 50 day moving average is $21.69 and its two-hundred day moving average is $19.32. The firm has a market capitalization of $8.69 billion, a PE ratio of 8.12, a P/E/G ratio of 6.94 and a beta of 1.29. 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 (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share 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 company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company earned $1.17 EPS. The firm's revenue for the quarter was down 14.4% compared to the same quarter last year. Research analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA's payout ratio 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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