Fisher Asset Management LLC Boosts Holdings in APA Corporation $APA

Fisher Asset Management LLC increased its holdings in APA Corporation (NASDAQ:APA) by 5.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,525,078 shares of the company’s stock after acquiring an additional 75,532 shares during the quarter. Fisher Asset Management LLC’s holdings in APA were worth $37,303,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its holdings in APA by 1.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after purchasing an additional 396 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in APA by 3.2% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock worth $358,000 after purchasing an additional 461 shares in the last quarter. Howard Capital Management Inc. lifted its holdings in APA by 0.5% in the 3rd quarter. Howard Capital Management Inc. now owns 94,848 shares of the company’s stock worth $2,303,000 after purchasing an additional 485 shares in the last quarter. one8zero8 LLC lifted its holdings in APA by 1.2% in the 3rd quarter. one8zero8 LLC now owns 42,254 shares of the company’s stock worth $1,026,000 after purchasing an additional 488 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in APA by 0.5% in the 3rd quarter. Arizona State Retirement System now owns 106,734 shares of the company’s stock worth $2,592,000 after purchasing an additional 517 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APA. UBS Group boosted their price target on APA from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Scotiabank boosted their price target on APA from $26.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Wolfe Research upped their price objective on APA from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Morgan Stanley upped their price objective on APA from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Thursday, May 21st. Finally, Mizuho upped their price objective on APA from $29.00 to $32.00 and gave the stock an “underperform” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.81.

APA Stock Down 3.4%

Shares of APA opened at $37.50 on Wednesday. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 8.74 and a beta of 0.38. APA Corporation has a 1 year low of $16.75 and a 1 year high of $45.66. The business’s 50 day simple moving average is $39.03 and its 200-day simple moving average is $30.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92.

APA (NASDAQ:APA) last released its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.27. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS. As a group, equities analysts expect that APA Corporation will post 5.06 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. APA’s payout ratio is currently 23.31%.

Insider Activity at APA

In other news, Director Matthew Regis Bob sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the transaction, the director owned 6,634 shares of the company’s stock, valued at approximately $240,349.82. The trade was a 77.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the transaction, the vice president directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.73% of the company’s stock.

About APA

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.