Dockside LLC Acquires Shares of 120,426 APA Corporation $APA

Dockside LLC acquired a new stake in APA Corporation (NASDAQ:APA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 120,426 shares of the company’s stock, valued at approximately $2,946,000.

Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in shares of APA by 76.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after buying an additional 3,117,032 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of APA by 157.1% during the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after buying an additional 1,869,891 shares during the last quarter. Morgan Stanley boosted its stake in shares of APA by 21.8% during the 4th quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock valued at $255,010,000 after buying an additional 1,864,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of APA by 13.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,030,230 shares of the company’s stock valued at $340,657,000 after buying an additional 1,674,739 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of APA by 29.6% during the 3rd quarter. Northern Trust Corp now owns 4,462,476 shares of the company’s stock valued at $108,349,000 after buying an additional 1,018,326 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Insider Buying and Selling at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the firm’s stock in a transaction 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 directly owned 6,634 shares in the company, valued at $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction 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 in the company, valued at $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

APA has been the subject of several research analyst reports. Bank of America increased their target price on APA from $23.00 to $27.00 and gave the company an “underperform” rating in a research note on Monday, March 16th. JPMorgan Chase & Co. increased their target price on APA from $38.00 to $41.00 in a research note on Friday, May 8th. BMO Capital Markets reduced their target price on APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research note on Wednesday, May 13th. Wells Fargo & Company increased their target price on APA from $21.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Finally, Benchmark increased their target price on APA from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.04.

APA Stock Performance

Shares of APA opened at $37.02 on Friday. The business’s fifty day moving average price is $38.32 and its 200 day moving average price is $32.04. APA Corporation has a 12-month low of $17.74 and a 12-month high of $45.66. The stock has a market capitalization of $13.08 billion, a PE ratio of 8.63 and a beta of 0.33. 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 announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the business posted $1.06 earnings per share. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. Equities research analysts forecast that APA Corporation will post 5.59 EPS for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be paid 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 2.7%. APA’s dividend payout ratio (DPR) is 23.31%.

APA Company 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.