Del Sette Capital Management LLC Purchases Shares of 136,738 APA Corporation $APA

Del Sette Capital Management LLC purchased a new stake in APA Corporation (NASDAQ:APA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 136,738 shares of the company’s stock, valued at approximately $3,345,000. APA accounts for approximately 2.1% of Del Sette Capital Management LLC’s portfolio, making the stock its 19th biggest position.

A number of other large investors also recently bought and sold shares of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in APA by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after acquiring an additional 2,070 shares during the period. NewEdge Advisors LLC lifted its holdings in APA by 49.6% in the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock valued at $227,000 after acquiring an additional 3,578 shares during the period. Goldman Sachs Group Inc. lifted its holdings in APA by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock valued at $56,092,000 after acquiring an additional 806,252 shares during the period. Focus Partners Wealth lifted its holdings in APA by 10.6% in the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after acquiring an additional 4,297 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in APA in the second quarter valued at approximately $5,199,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Trading Down 1.5%

Shares of APA stock opened at $40.13 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $14.18 billion, a price-to-earnings ratio of 10.06 and a beta of 0.38. The stock has a 50 day simple moving average of $36.77 and a 200-day simple moving average of $29.07. APA Corporation has a 1-year low of $15.20 and a 1-year high of $45.66.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.62 by $0.29. APA had a return on equity of 19.89% and a net margin of 15.55%.The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was down 26.6% on a year-over-year basis. On average, equities research analysts expect that APA Corporation will post 4.83 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 22nd. APA’s payout ratio is presently 25.06%.

Insider Activity at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 6,634 shares in the company, valued at approximately $240,349.82. The trade was a 77.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

APA has been the subject of several research analyst reports. Evercore upped their target price on APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 24th. Zacks Research raised APA from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Stephens upped their target price on APA from $24.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 31st. Wells Fargo & Company upped their target price on APA from $21.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Finally, Mizuho upped their target price on APA from $24.00 to $29.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, APA currently has a consensus rating of “Hold” and a consensus price target of $39.50.

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.