Gateway Investment Advisers LLC Has $1.24 Million Stock Holdings in APA Corporation $APA

Gateway Investment Advisers LLC boosted its position in shares of APA Corporation (NASDAQ:APA) by 49.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,960 shares of the company’s stock after acquiring an additional 12,587 shares during the period. Gateway Investment Advisers LLC’s holdings in APA were worth $1,236,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in APA. Merit Financial Group LLC lifted its position in shares of APA by 101.6% in the 2nd quarter. Merit Financial Group LLC now owns 37,478 shares of the company’s stock worth $1,221,000 after acquiring an additional 18,885 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of APA during the 2nd quarter worth approximately $7,087,000. Fortitude Family Office LLC increased its position in shares of APA by 37.9% during the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company’s stock valued at $48,000 after purchasing an additional 409 shares during the period. Blackhawk Capital Partners LLC increased its position in shares of APA by 55.1% during the second quarter. Blackhawk Capital Partners LLC now owns 21,100 shares of the company’s stock valued at $687,000 after purchasing an additional 7,500 shares during the period. Finally, Tema ETFs LLC raised its stake in shares of APA by 9.6% in the second quarter. Tema ETFs LLC now owns 6,605 shares of the company’s stock valued at $215,000 after purchasing an additional 580 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Insider Transactions at APA

In other APA 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 in the company, valued at $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by corporate insiders.

APA Price Performance

APA stock opened at $39.97 on Thursday. The business has a 50 day simple moving average of $35.28 and a 200 day simple moving average of $35.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $14.00 billion, a PE ratio of 8.45 and a beta of 0.35. APA Corporation has a one year low of $19.96 and a one 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 company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company earned $0.87 earnings per share. On average, sell-side analysts forecast that APA Corporation will post 5.16 EPS for the current fiscal year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be issued a dividend of $0.25 per share. 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 (DPR) is currently 21.14%.

Analyst Ratings Changes

Several brokerages recently commented on APA. Raymond James Financial reduced their target price on APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Citigroup reissued a “neutral” rating on shares of APA in a report on Tuesday, July 21st. Truist Financial increased their price objective on shares of APA from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of APA from $38.00 to $41.00 in a report on Friday, May 8th. Finally, The Goldman Sachs Group decreased their target price on shares of APA from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently 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.