Quantinno Capital Management LP Increases Stock Holdings in APA Corporation $APA

Quantinno Capital Management LP raised its position in APA Corporation (NASDAQ:APA) by 5.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 809,126 shares of the company’s stock after acquiring an additional 39,375 shares during the quarter. Quantinno Capital Management LP’s holdings in APA were worth $34,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of APA. Hollencrest Capital Management increased its stake in APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new position in shares of APA in the first quarter worth $28,000. Summit Securities Group LLC increased its position in shares of APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after acquiring an additional 710 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of APA in the fourth quarter valued at $37,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of APA in the first quarter valued at $44,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Performance

Shares of APA stock opened at $36.33 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average price of $35.24 and a 200 day moving average price of $34.30. The company has a market cap of $12.84 billion, a P/E ratio of 8.47 and a beta of 0.35. APA Corporation has a 12 month low of $17.86 and a 12 month high of $45.66.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $1.06 earnings per share. APA’s quarterly revenue was down 11.7% on a year-over-year basis. Sell-side analysts predict that APA Corporation will post 4.92 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. APA’s dividend payout ratio is presently 23.31%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APA. Citigroup reissued a “neutral” rating on shares of APA in a research note on Tuesday, July 21st. Barclays increased their price target on APA from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. BMO Capital Markets decreased their price objective on APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research note on Wednesday, May 13th. Royal Bank Of Canada boosted their price objective on APA from $29.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Finally, Capital One Financial upped their target price on shares of APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.35.

Insider Activity at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

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.