Gateway Investment Advisers LLC Acquires 12,587 Shares of APA Corporation $APA

Gateway Investment Advisers LLC grew its holdings in APA Corporation (NASDAQ:APA) by 49.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,960 shares of the company’s stock after purchasing an additional 12,587 shares during the quarter. Gateway Investment Advisers LLC’s holdings in APA were worth $1,236,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Hollencrest Capital Management increased its stake in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new position in APA during the 1st quarter worth about $28,000. Summit Securities Group LLC lifted its position in APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after buying an additional 710 shares in the last quarter. Camelot Portfolios LLC bought a new stake in APA during the 4th quarter worth about $37,000. Finally, Global Assets Advisory LLC bought a new stake in APA during the 1st quarter worth about $44,000. Institutional investors own 83.01% of the company’s stock.

APA Price Performance

APA stock opened at $39.97 on Thursday. 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 capitalization of $14.00 billion, a P/E ratio of 8.45 and a beta of 0.35. The business has a 50-day moving average of $35.28 and a 200-day moving average of $35.06. APA Corporation has a 1 year low of $19.96 and a 1 year high of $45.66.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, equities analysts anticipate that APA Corporation will post 5.16 EPS for the current year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio is presently 21.14%.

Insiders Place Their Bets

In other APA news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction 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 sale, the vice president directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Susquehanna boosted their target price on shares of APA from $45.00 to $47.00 and gave the stock a “positive” rating in a research note on Tuesday. Raymond James Financial decreased their price target on shares of APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Mizuho raised shares of APA to a “strong sell” rating in a report on Friday, July 31st. Wells Fargo & Company restated a “positive” rating and issued a $49.00 price objective on shares of APA in a research report on Thursday. Finally, Scotiabank upped their price objective on APA from $26.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Ten analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.30.

APA Profile

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.