Prospera Financial Services Inc Purchases New Stake in APA Co. (NASDAQ:APA)

Prospera Financial Services Inc purchased a new stake in APA Co. (NASDAQ:APAGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,304 shares of the company’s stock, valued at approximately $178,000.

A number of other large investors have also added to or reduced their stakes in the business. Invesco Ltd. raised its stake in APA by 17.0% in the 4th quarter. Invesco Ltd. now owns 17,493,238 shares of the company’s stock valued at $470,392,000 after acquiring an additional 2,547,210 shares during the period. Geode Capital Management LLC raised its stake in APA by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 7,358,464 shares of the company’s stock valued at $197,596,000 after acquiring an additional 80,497 shares during the period. First Trust Advisors LP raised its stake in APA by 130.1% in the 4th quarter. First Trust Advisors LP now owns 2,500,290 shares of the company’s stock valued at $67,233,000 after acquiring an additional 1,413,779 shares during the period. Millennium Management LLC increased its position in APA by 565.2% during the 4th quarter. Millennium Management LLC now owns 2,473,762 shares of the company’s stock worth $66,519,000 after buying an additional 2,101,876 shares during the period. Finally, Mirabella Financial Services LLP bought a new position in APA during the 4th quarter worth $2,007,000. Institutional investors own 84.08% of the company’s stock.

Insider Activity

In other news, insider P Anthony Lannie sold 86,750 shares of APA stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $41.26, for a total transaction of $3,579,305.00. Following the sale, the insider now directly owns 58,844 shares of the company’s stock, valued at $2,427,903.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

APA Stock Performance

NASDAQ:APA opened at $34.43 on Thursday. The stock’s 50-day simple moving average is $39.10 and its 200 day simple moving average is $38.53. The firm has a market capitalization of $11.65 billion, a PE ratio of 4.92, a price-to-earnings-growth ratio of 0.20 and a beta of 3.90. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.77. APA Co. has a twelve month low of $15.55 and a twelve month high of $51.95.

APA (NASDAQ:APAGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.16). The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.44 billion. APA had a net margin of 30.21% and a return on equity of 11,632.79%. The business’s quarterly revenue was up 42.7% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. On average, analysts anticipate that APA Co. will post 9.49 EPS for the current fiscal year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, July 22nd will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, July 21st. APA’s payout ratio is 7.14%.

Analysts Set New Price Targets

APA has been the topic of several recent research reports. Susquehanna increased their price objective on APA from $42.00 to $52.00 in a research report on Monday, April 25th. Piper Sandler lowered their price objective on APA from $54.00 to $47.00 in a research report on Friday, July 22nd. The Goldman Sachs Group lowered their price objective on APA from $52.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 5th. Mizuho lowered their price objective on APA from $60.00 to $56.00 in a research report on Tuesday, July 19th. Finally, MKM Partners reiterated a “buy” rating and set a $45.00 price objective on shares of APA in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.63.

APA Profile

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

Further Reading

Institutional Ownership by Quarter for APA (NASDAQ:APA)

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