APA Corporation $APA Stock Bought by Foundation Resource Management Inc.

Foundation Resource Management Inc. increased its holdings in APA Corporation (NASDAQ:APA) by 5.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 277,294 shares of the company’s stock after buying an additional 14,373 shares during the quarter. Foundation Resource Management Inc.’s holdings in APA were worth $11,519,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of APA. BlackRock Inc. purchased a new position in APA in the 2nd quarter worth about $1,173,231,000. State Street Corp boosted its holdings in shares of APA by 1.5% during the 2nd quarter. State Street Corp now owns 25,181,423 shares of the company’s stock valued at $820,159,000 after acquiring an additional 377,429 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of APA by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company’s stock valued at $695,099,000 after acquiring an additional 1,055,016 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of APA by 1,726.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after acquiring an additional 4,569,779 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of APA by 55.0% in the first quarter. First Trust Advisors LP now owns 4,154,301 shares of the company’s stock worth $176,309,000 after acquiring an additional 1,473,626 shares during the period. 83.01% of the stock is currently owned by institutional investors.

APA Stock Performance

APA stock traded up $0.61 during trading on Monday, reaching $49.76. The stock had a trading volume of 4,388,987 shares, compared to its average volume of 6,662,590. APA Corporation has a 52 week low of $21.63 and a 52 week high of $49.85. The stock’s 50 day moving average is $43.72 and its two-hundred day moving average is $39.20. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm has a market cap of $17.43 billion, a PE ratio of 10.52, a PEG ratio of 0.82 and a beta of 0.42.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, equities analysts anticipate that APA Corporation will post 6.00 earnings per share for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. APA’s dividend payout ratio is presently 21.14%.

APA declared that its board has initiated a share repurchase program on Wednesday, September 16th that allows the company to buy back 40,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Share repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

APA has been the subject of several research reports. Zacks Research raised shares of APA from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Benchmark raised their target price on shares of APA from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Wells Fargo & Company raised their target price on shares of APA from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 14th. Seaport Research Partners assumed coverage on shares of APA in a research report on Thursday, September 3rd. They issued a “neutral” rating for the company. Finally, Citigroup boosted their target price on shares of APA from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, APA currently has a consensus rating of “Hold” and a consensus target price of $44.38.

APA Profile

APA Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company’s activities include identifying hydrocarbon resources, drilling and completing wells, operating producing properties, and managing related infrastructure.

APA’s principal producing areas include the Permian Basin in the United States and Egypt’s Western Desert, where it operates through joint ventures with the Egyptian General Petroleum Corporation.