MBB Public Markets I LLC Takes Position in APA Co. (NASDAQ:APA)

MBB Public Markets I LLC bought a new stake in APA Co. (NASDAQ:APA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,515 shares of the company’s stock, valued at approximately $663,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American National Bank grew its stake in shares of APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares during the last quarter. Covestor Ltd grew its position in APA by 75.4% in 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 last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares during the period. Rothschild Investment LLC purchased a new position in APA during the 2nd quarter worth $42,000. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of NASDAQ APA opened at $25.66 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $9.52 billion, a PE ratio of 2.87 and a beta of 3.24. The company has a 50-day simple moving average of $27.33 and a 200-day simple moving average of $29.75. APA Co. has a 12 month low of $22.72 and a 12 month high of $43.58.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 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 during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the company earned $0.85 EPS. APA’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, equities analysts anticipate that APA Co. will post 4.04 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 3.90%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APA. Evercore ISI dropped their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday. UBS Group cut 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. Scotiabank decreased their price target on APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Bank of America reaffirmed an “underperform” rating and set a $31.00 price objective on shares of APA in a report on Friday, June 14th. Finally, Barclays reissued an “equal weight” rating and issued a $35.00 target price on shares of APA in a report on Wednesday, September 11th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.43.

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.