Convergence Investment Partners LLC Has $3.42 Million Stock Position in APA Corporation $APA

Convergence Investment Partners LLC boosted its stake in APA Corporation (NASDAQ:APA) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,668 shares of the company’s stock after acquiring an additional 16,585 shares during the period. Convergence Investment Partners LLC’s holdings in APA were worth $3,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in APA by 57.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 306,195 shares of the company’s stock valued at $7,765,000 after purchasing an additional 111,777 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of APA by 71.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 185,818 shares of the company’s stock worth $4,437,000 after purchasing an additional 77,125 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of APA in the fourth quarter worth approximately $938,000. Thrivent Financial for Lutherans lifted its holdings in shares of APA by 85.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock valued at $1,976,000 after purchasing an additional 37,180 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of APA by 59.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,895 shares of the company’s stock valued at $2,761,000 after purchasing an additional 42,068 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Price Performance

Shares of NASDAQ APA opened at $34.84 on Tuesday. The company has a market capitalization of $12.31 billion, a PE ratio of 8.12 and a beta of 0.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average price is $35.67 and its 200-day moving average price is $33.66. APA Corporation has a twelve month low of $17.86 and a twelve month high of $45.66.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.APA’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. On average, equities analysts anticipate that APA Corporation will post 5 EPS for the current year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, July 22nd. APA’s payout ratio is presently 23.31%.

Analyst Ratings Changes

Several research analysts recently issued reports on APA shares. Raymond James Financial cut their target price on APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Mizuho raised their price objective on APA from $32.00 to $36.00 and gave the company an “underperform” rating in a research note on Wednesday, May 27th. Evercore raised their price objective on APA from $25.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, March 24th. BMO Capital Markets cut their price objective on shares of APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a report on Wednesday, May 13th. Finally, Jefferies Financial Group upped their target price on shares of APA from $26.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $40.42.

Insider Buying and Selling at APA

In related news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the transaction, the vice president directly owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

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.