Dockside LLC Takes $5.86 Million Position in APA Corporation $APA

by · The Cerbat Gem

Dockside LLC bought a new stake in shares of APA Corporation (NASDAQ:APA – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 179,892 shares of the company’s stock, valued at approximately $5,859,000. APA accounts for 1.4% of Dockside LLC’s portfolio, making the stock its 10th largest holding. Dockside LLC owned approximately 0.05% of APA as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Altshuler Shaham Ltd lifted its holdings in APA by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock valued at $52,000 after purchasing an additional 330 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in APA by 0.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after buying an additional 375 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after buying an additional 396 shares during the last quarter. Fortitude Family Office LLC increased its holdings 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 worth $48,000 after buying an additional 409 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock worth $358,000 after buying an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their price target on APA from $39.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday. Morgan Stanley lowered their price objective on shares of APA from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, June 26th. Stephens boosted their target price on shares of APA from $43.00 to $47.00 in a research note on Wednesday, June 10th. Mizuho upgraded shares of APA to a “strong sell” rating in a research report on Friday, July 31st. Finally, Barclays increased their price target on shares of APA from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Nine investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $41.30.

View Our Latest Analysis on APA

APA Stock Up 1.2%

Shares of APA stock opened at $40.47 on Friday. APA Corporation has a 12-month low of $19.96 and a 12-month high of $45.66. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $35.39 and a 200-day moving average of $35.20. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 8.56 and a beta of 0.35.

APA (NASDAQ:APA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same period last year, the firm earned $0.87 earnings per share. As a group, equities research analysts predict that APA Corporation will post 5.25 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. APA’s dividend payout ratio is 21.14%.

Insider Activity at APA

In other APA news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was 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 of the company’s stock, valued at $2,675,072.40. This represents a 12.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

About APA

(Free Report)

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.

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