Sunbelt Securities Inc. Boosts Stake in APA Co. (NASDAQ:APA)

Sunbelt Securities Inc. increased its holdings in APA Co. (NASDAQ:APA) by 269.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,671 shares of the company’s stock after purchasing an additional 1,949 shares during the period. Sunbelt Securities Inc.’s holdings in APA were worth $79,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. American National Bank boosted its holdings in shares of APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after acquiring an additional 490 shares during the last quarter. Covestor Ltd lifted its holdings in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after buying an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares during the period. Rothschild Investment LLC purchased a new stake in APA during the second quarter valued at $42,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 shares during the period. 83.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on APA. Evercore ISI reduced their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday. Wolfe Research assumed coverage on shares of APA in a research note on Thursday, July 18th. They set an “outperform” rating and a $42.00 price target on the stock. Wells Fargo & Company reduced their price target on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup reduced their price objective on shares of APA from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Susquehanna lowered their price target on APA from $57.00 to $52.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.19.

APA Price Performance

APA stock opened at $26.53 on Friday. The stock has a market cap of $9.85 billion, a PE ratio of 2.97 and a beta of 3.24. The company has a 50-day moving average price of $27.24 and a 200 day moving average price of $29.72. APA Co. has a 12 month low of $22.72 and a 12 month high of $43.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. Equities research analysts anticipate that APA Co. will post 4.04 earnings per share for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.77%. APA’s dividend payout ratio is currently 11.19%.

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.