Envestnet Asset Management Inc. Purchases 20,943 Shares of APA Co. (NASDAQ:APA)

Envestnet Asset Management Inc. grew its position in APA Co. (NASDAQ:APA) by 12.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,069 shares of the company’s stock after acquiring an additional 20,943 shares during the quarter. Envestnet Asset Management Inc. owned 0.05% of APA worth $5,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of APA by 61.0% in the 4th quarter. Wells Fargo & Company MN now owns 305,696 shares of the company’s stock worth $10,968,000 after purchasing an additional 115,876 shares during the period. Stifel Financial Corp increased its holdings in shares of APA by 4.6% in the fourth quarter. Stifel Financial Corp now owns 514,871 shares of the company’s stock valued at $18,473,000 after purchasing an additional 22,640 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of APA by 64,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,600 shares of the company’s stock valued at $93,000 after purchasing an additional 2,596 shares during the period. Bank of Nova Scotia grew its holdings in APA by 32.7% during the fourth quarter. Bank of Nova Scotia now owns 37,954 shares of the company’s stock worth $1,362,000 after acquiring an additional 9,362 shares during the period. Finally, KBC Group NV grew its holdings in APA by 145.1% during the fourth quarter. KBC Group NV now owns 86,611 shares of the company’s stock worth $3,107,000 after acquiring an additional 51,280 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Trading Down 0.3 %

APA stock opened at $24.46 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 2.74 and a beta of 3.24. APA Co. has a 1 year low of $22.72 and a 1 year high of $43.58. The firm’s 50 day moving average price is $27.43 and its two-hundred day moving average price is $29.79.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, research analysts predict that APA Co. will post 4.04 EPS for the current fiscal year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

Analyst Ratings Changes

Several research firms have recently weighed in on APA. Truist Financial decreased their target price on APA from $46.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company lowered their target price on APA from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. UBS Group lowered their target price on APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Barclays reaffirmed an “equal weight” rating and set a $35.00 price target on shares of APA in a report on Wednesday, September 11th. Finally, Citigroup reduced their target price on APA from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.52.

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.