Lido Advisors LLC Invests $1.08 Million in APA Corporation $APA

Lido Advisors LLC acquired a new stake in APA Corporation (NASDAQ:APA) in the 1st quarter, HoldingsChannel reports. The fund acquired 25,570 shares of the company’s stock, valued at approximately $1,085,000.

Several other hedge funds and other institutional investors have also made changes to their positions in APA. Alpha Family Trust bought a new stake in APA during the first quarter worth $249,000. Impala Asset Management LLC bought a new position in shares of APA in the 1st quarter valued at about $1,061,000. NewEdge Wealth LLC increased its stake in shares of APA by 18.7% during the 1st quarter. NewEdge Wealth LLC now owns 73,499 shares of the company’s stock worth $3,119,000 after purchasing an additional 11,560 shares during the last quarter. CI Investments Inc. acquired a new position in shares of APA during the 1st quarter worth about $247,000. Finally, First Trust Advisors LP raised its holdings in shares of APA by 55.0% in the 1st quarter. First Trust Advisors LP now owns 4,154,301 shares of the company’s stock valued at $176,309,000 after purchasing an additional 1,473,626 shares during the period. 83.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APA has been the subject of several recent analyst reports. Sanford C. Bernstein raised their target price on shares of APA from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, May 20th. The Goldman Sachs Group lowered their price target on APA from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Raymond James Financial dropped their price objective on APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Zacks Research cut APA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings downgraded APA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Eight equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.35.

APA Stock Performance

NASDAQ APA opened at $34.74 on Tuesday. The firm has a 50-day moving average of $35.45 and a 200-day moving average of $34.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $12.28 billion, a PE ratio of 8.10 and a beta of 0.35. APA Corporation has a 52-week low of $17.86 and a 52-week high of $45.66.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. APA’s revenue was down 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that APA Corporation will post 4.92 EPS for the current year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 2.9%. APA’s dividend payout ratio (DPR) is 23.31%.

Insider Activity

In other news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the transaction, the vice president owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.

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.