Envestnet Asset Management Inc. Sells 8,952 Shares of APA Corporation $APA

by · The Cerbat Gem

Envestnet Asset Management Inc. lowered its position in shares of APA Corporation (NASDAQ:APA – Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,560 shares of the company’s stock after selling 8,952 shares during the period. Envestnet Asset Management Inc.’s holdings in APA were worth $4,766,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of APA by 46.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock valued at $190,876,000 after purchasing an additional 2,894,543 shares in the last quarter. Nuveen LLC purchased a new position in APA during the first quarter worth about $22,533,000. Charles Schwab Investment Management Inc. grew its position in APA by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock worth $292,871,000 after buying an additional 1,046,893 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in APA by 2.9% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock worth $765,964,000 after acquiring an additional 1,029,961 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of APA in the 1st quarter valued at about $17,129,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Performance

APA stock opened at $24.69 on Friday. The firm has a fifty day simple moving average of $23.48 and a two-hundred day simple moving average of $20.59. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. APA Corporation has a twelve month low of $13.58 and a twelve month high of $25.83. The company has a market capitalization of $8.76 billion, a PE ratio of 8.26, a P/E/G ratio of 6.28 and a beta of 1.12.

APA (NASDAQ:APA – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. APA had a return on equity of 20.98% and a net margin of 10.53%.The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year. Research analysts expect that APA Corporation will post 4.03 EPS for the current year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.1%. APA’s payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APA. Raymond James Financial boosted their price objective on APA from $28.00 to $31.00 in a report on Tuesday, October 28th. Mizuho boosted their price target on shares of APA from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Thursday, October 16th. BMO Capital Markets raised their price objective on shares of APA from $28.00 to $30.00 and gave the company a “market perform” rating in a research report on Monday, October 13th. Barclays lifted their price objective on shares of APA from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Finally, Cowen reissued a “hold” rating on shares of APA in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, APA has a consensus rating of “Hold” and a consensus price target of $24.44.

Read Our Latest Stock Analysis on APA

APA Company Profile

(Free Report)

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.

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