SeaCrest Wealth Management LLC Invests $43,000 in APA Co. (NASDAQ:APA)

SeaCrest Wealth Management LLC bought a new position in APA Co. (NASDAQ:APAGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,234 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Van ECK Associates Corp boosted its position in shares of APA by 10.5% in the first quarter. Van ECK Associates Corp now owns 3,560 shares of the company’s stock worth $147,000 after buying an additional 338 shares during the period. Wetherby Asset Management Inc. boosted its position in APA by 4.0% during the first quarter. Wetherby Asset Management Inc. now owns 9,665 shares of the company’s stock valued at $399,000 after purchasing an additional 368 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in APA by 28.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,819 shares of the company’s stock valued at $75,000 after purchasing an additional 399 shares during the last quarter. Clifford Swan Investment Counsel LLC boosted its position in APA by 1.4% during the second quarter. Clifford Swan Investment Counsel LLC now owns 29,224 shares of the company’s stock valued at $1,020,000 after purchasing an additional 417 shares during the last quarter. Finally, Covestor Ltd boosted its position in APA by 117.8% during the first quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after purchasing an additional 437 shares during the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on APA shares. Susquehanna reduced their price objective on APA from $52.00 to $49.00 and set a “positive” rating for the company in a research report on Friday, August 5th. Mizuho reduced their price objective on APA from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Royal Bank of Canada lifted their price objective on APA from $52.00 to $54.00 and gave the company a “sector perform” rating in a research report on Monday, November 14th. Morgan Stanley cut their target price on APA from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Monday, August 29th. Finally, Jefferies Financial Group initiated coverage on APA in a report on Wednesday, October 19th. They set a “hold” rating and a $45.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.39.

APA Trading Down 1.3 %

APA stock opened at $46.34 on Monday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50-day simple moving average is $43.95 and its 200-day simple moving average is $39.16. The firm has a market capitalization of $14.90 billion, a PE ratio of 4.43, a PEG ratio of 0.24 and a beta of 3.70. APA Co. has a 52 week low of $22.94 and a 52 week high of $51.95.

APA (NASDAQ:APAGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.05. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.35 billion. APA had a return on equity of 325.67% and a net margin of 33.83%. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Equities research analysts forecast that APA Co. will post 8.2 earnings per share for the current year.

APA announced that its board has authorized a share repurchase program on Wednesday, September 14th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

APA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 20th. This is an increase from APA’s previous quarterly dividend of $0.13. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. APA’s dividend payout ratio (DPR) is 9.55%.

APA Company Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding APA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for APA Co. (NASDAQ:APAGet Rating).

Institutional Ownership by Quarter for APA (NASDAQ:APA)

Receive News & Ratings for APA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for APA and related companies with MarketBeat.com's FREE daily email newsletter.