Pacific Heights Asset Management LLC Has $10.32 Million Stake in APA Corporation $APA

Pacific Heights Asset Management LLC raised its stake in APA Corporation (NASDAQ:APA) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 425,000 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in APA were worth $10,319,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. TD Private Client Wealth LLC increased its position in APA by 144.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after purchasing an additional 1,104 shares in the last quarter. CVA Family Office LLC grew its stake in shares of APA by 6,096.7% during the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock worth $34,000 after buying an additional 1,829 shares during the last quarter. Spire Wealth Management grew its stake in shares of APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after buying an additional 977 shares during the last quarter. MAI Capital Management increased its holdings in shares of APA by 76.5% during the second quarter. MAI Capital Management now owns 2,134 shares of the company’s stock worth $39,000 after buying an additional 925 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of APA by 214.3% in the 2nd quarter. Whittier Trust Co. now owns 2,200 shares of the company’s stock valued at $40,000 after acquiring an additional 1,500 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APA. Susquehanna boosted their price objective on APA from $30.00 to $32.00 and gave the stock a “positive” rating in a research report on Wednesday, November 12th. Raymond James Financial restated an “outperform” rating and set a $31.00 price target on shares of APA in a report on Monday, November 24th. William Blair initiated coverage on shares of APA in a report on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Finally, Stephens upped their price target on shares of APA from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $26.59.

APA Stock Performance

Shares of APA stock opened at $25.78 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.78. APA Corporation has a one year low of $13.58 and a one year high of $27.72. The business’s 50 day simple moving average is $24.96 and its 200 day simple moving average is $22.96. The stock has a market capitalization of $9.14 billion, a PE ratio of 6.20, a PEG ratio of 10.72 and a beta of 0.74.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. APA had a net margin of 15.49% and a return on equity of 19.86%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the company earned $1.00 EPS. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. As a group, research analysts forecast that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Thursday, January 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. APA’s dividend payout ratio is 24.04%.

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.