APA Corporation $APA Shares Bought by Rahlfs Capital LLC

Rahlfs Capital LLC lifted its position in APA Corporation (NASDAQ:APA) by 21.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,120 shares of the company’s stock after buying an additional 12,420 shares during the quarter. APA comprises approximately 1.7% of Rahlfs Capital LLC’s holdings, making the stock its 13th largest position. Rahlfs Capital LLC’s holdings in APA were worth $2,954,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Fifth Third Wealth Advisors LLC acquired a new stake in shares of APA in the third quarter valued at about $337,000. Credit Capital Investments LLC acquired a new position in shares of APA during the 3rd quarter worth about $208,000. Brookstone Capital Management acquired a new position in shares of APA during the 3rd quarter worth about $201,000. Lmcg Investments LLC bought a new stake in APA during the 3rd quarter valued at approximately $206,000. Finally, Axxcess Wealth Management LLC bought a new stake in APA during the 3rd quarter valued at approximately $539,000. 83.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Argus raised APA from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, August 19th. Stephens reiterated an “equal weight” rating and set a $49.00 price target on shares of APA in a report on Friday, October 9th. Raymond James Financial increased their price objective on APA from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. Truist Financial raised their price objective on shares of APA from $44.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $43.00 target price on shares of APA in a research note on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, APA presently has an average rating of “Hold” and a consensus price target of $44.76.

APA Stock Performance

APA stock traded up $2.46 during trading hours on Friday, hitting $51.90. The stock had a trading volume of 7,066,909 shares, compared to its average volume of 5,243,228. The company has a 50-day moving average of $44.69 and a two-hundred day moving average of $39.51. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The company has a market cap of $18.18 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.42. APA Corporation has a fifty-two week low of $21.63 and a fifty-two week high of $52.39.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates 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 EPS. On average, equities research analysts anticipate that APA Corporation will post 6.10 EPS for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. APA’s payout ratio is currently 21.14%.

APA announced that its Board of Directors has initiated a stock buyback plan on Wednesday, September 16th that allows the company to buy back 40,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

About APA

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.