In recent news, investment firm Toroso Investments LLC has increased its stake in APA Co. (NASDAQ:APA) by 54.3% during the first quarter of this year. According to the company’s most recent Form 13F filing with the Securities and Exchange Commission, Toroso Investments now owns 29,920 shares of APA’s stock, after purchasing an additional 10,535 shares in the period.
The value of Toroso Investments LLC’s holdings in APA stands at $1,079,000 as of the most recent quarter-end. This significant increase in their stake demonstrates their confidence in APA as a valuable investment opportunity.
APA recently released its quarterly earnings data on Thursday, August 3rd. The company reported an impressive $0.85 earnings per share (EPS) for the quarter. This exceeded the consensus estimate of $0.66 EPS by a notable $0.19. Moreover, APA achieved a net margin of 16.14% and demonstrated an impressive return on equity of 117.05%.
Despite challenges faced by many companies due to economic fluctuations over the past year, APA managed to generate $1.80 billion in revenue during this quarter alone—beating analyst estimates which had predicted around $1.74 billion in revenue for this period.
Comparing these results to the same period last year reveals that APA saw a decrease in revenue of around 41.2% on a year-over-year basis—a trend that is not unique within various industries given the global economic climate presented by the COVID-19 pandemic.
Sell-side analysts predict that APA Co.’s EPS for the current year will amount to approximately 4.42—a promising forecast considering their strong performance thus far.
Overall, these developments suggest that Toroso Investments LLC recognizes the potential for growth and stability within APA Co., prompting them to increase their stake significantly during this timeframe.
For those interested in learning more about APA Co. and its recent performance, we encourage you to explore our latest research report on the company.
APA Corporation
APA
Strong Buy
Updated on: 19/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
Institutional Investors Increase Holdings in APA, Driving Stock Ownership to New Heights
On September 18, 2023, various hedge funds made significant changes to their positions in APA, a well-known company. Notably, CWM LLC increased its holdings in shares of the company by 5.9% during the first quarter. This move resulted in CWM LLC now owning 6,144 shares of APA worth approximately $222,000 after purchasing an additional 340 shares in the last quarter.
Moreover, Private Advisor Group LLC entered the scene by buying a new position in shares of APA during the first quarter with an estimated value of about $513,000. Avantax Advisory Services Inc. also showed considerable growth by expanding its holdings in APA by 86.4% during the first quarter. As a result, Avantax Advisory Services Inc. now owns approximately 16,535 shares of the company’s stock equating to $596,000 after purchasing an additional 7,664 shares within that period.
Another notable investor is Xponance Inc., which witnessed impressive growth of its holdings in APA by 116.1% during the first quarter. As a result, Xponance Inc. now possesses around 87,281 shares valued at approximately $3,147,000 after procuring an additional 46,885 shares throughout that same quarter.
Lastly, Clear Street Markets LLC achieved remarkable growth as its holdings in APA skyrocketed by an astonishing % in the fourth quarter. Clear Street Markets LLC currently holds around 4,424 shares valued at roughly $207,000 after acquiring an additional 4,362 shares during that particular period.
These substantial shifts are incredibly perplexing but undoubtedly contribute to strengthening institutional investors’ ownership over APA stock since they currently possess a staggering 80.48% stake.
APA stock opened at $42.46 on September 18th and boasts a market capitalization of $13.05 billion while maintaining a P/E ratio of 9.09. Additionally, APA Co. has exhibited an interesting beta of 3.53, reflecting its volatile nature compared to the overall market. The company’s quick ratio and current ratio both stand at 0.99, suggesting a satisfactory level of liquidity, while its debt-to-equity ratio stands at 3.29.
In terms of pricing trends, APA has shown a 50-day moving average price of $41.73 and a 200-day moving average price of $37.19, indicating potential stability in the stock’s performance over time. However, it is important to note that APA’s share value has experienced fluctuations between a 52-week low of $30.67 and a high of $50.58 during the same period.
The recent declaration of a quarterly dividend represents another point worth mentioning. Investors who hold shares in APA as of Monday, October 23rd- having surpassed the ex-dividend date on Friday, October 20th- can look forward to receiving a $0.25 dividend payment scheduled for Wednesday, November 22nd.
This payout corresponds to an annualized dividend of $1 per share and offers a yield of approximately 2.36%. With its current dividend payout ratio (DPR) at 21.41%, APA demonstrates its commitment to rewarding shareholders.
Precise evaluations from various brokerages offer insights into APA’s performance outlook. Raymond James decreased their target price on shares of APA from $53.00 to $51.00 but maintained a “strong-buy” rating for investors interested in the stock based on their report released on Monday, July 24th.
Royal Bank of Canada also adjusted its target price from $47.00 to $50.00 while providing a “sector perform” rating for APA in their report published on Tuesday, August 8th.
Undoubtedly optimistic about APA’s potential, Benchmark reaffirmed its “buy” rating and set a target price of $46.00 in their report on Thursday. Meanwhile, UBS Group raised their target price for APA shares from $35.00 to $53.00 but chose to give the stock a “neutral” rating, according to their report on Thursday, August 17th.
Lastly, Truist Financial expressed confidence in APA’s growth by reiterating a “buy” rating and setting an ambitious target price of $59.00 in their report released on Wednesday, August 16th.
Ultimately, two research analysts have issued a sell rating for APA shares, with six holding a more cautious hold rating. However, seven analysts have assigned a buy rating to the stock, while one analyst has given it a strong buy rating. According to data from Bloomberg.com’s analysis of APA ratings, the general consensus points towards a “Hold” sentiment mixed with varying degrees of optimism.
Given all these aspects and considering the company’s potential for long-term growth and shareholder returns, investors may find APA an intriguing option worth careful consideration as they navigate the complex world of stock investments.
Discussion about this post