KBC Group NV Trims Holdings in APA Corporation $APA

KBC Group NV reduced its stake in shares of APA Corporation (NASDAQ:APA) by 33.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,998 shares of the company’s stock after selling 5,632 shares during the quarter. KBC Group NV’s holdings in APA were worth $201,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in APA by 144.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock valued at $34,000 after buying an additional 1,104 shares in the last quarter. CVA Family Office LLC increased its position 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 acquiring an additional 1,829 shares during the period. Whittier Trust Co. raised its stake in shares of APA by 214.3% during the second 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 in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of APA by 1,731.8% in the second quarter. Hantz Financial Services Inc. now owns 2,363 shares of the company’s stock valued at $43,000 after purchasing an additional 2,234 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in APA by 60.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,645 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Up 2.2%

NASDAQ:APA opened at $24.92 on Wednesday. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 6.28 and a beta of 1.12. APA Corporation has a 52 week low of $13.58 and a 52 week high of $25.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $23.63 and a 200 day moving average of $20.83.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.19. APA had a net margin of 10.53% and a return on equity of 20.98%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.0%. APA’s dividend payout ratio (DPR) is 24.04%.

Analyst Ratings Changes

Several brokerages have weighed in on APA. The Goldman Sachs Group upgraded APA from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Mizuho upped their price objective 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. UBS Group increased their target price on shares of APA from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, November 10th. Royal Bank Of Canada boosted their price target on shares of APA from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Piper Sandler increased their price objective on shares of APA from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, APA has a consensus rating of “Hold” and a consensus price target of $24.56.

About APA

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.