SG Americas Securities LLC lowered its holdings in APA Corporation (NASDAQ:APA – Free Report) by 36.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 232,566 shares of the company’s stock after selling 134,800 shares during the period. SG Americas Securities LLC’s holdings in APA were worth $9,870,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in APA. Evolve Private Wealth LLC raised its position in shares of APA by 9.9% in the first quarter. Evolve Private Wealth LLC now owns 38,142 shares of the company’s stock valued at $1,619,000 after buying an additional 3,426 shares in the last quarter. Diversified Trust Co acquired a new stake in APA during the first quarter worth approximately $250,000. Baron Wealth Management LLC bought a new position in APA during the 1st quarter worth $222,000. Rockefeller Capital Management L.P. increased its stake in APA by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after acquiring an additional 375 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in APA by 39.2% in the 4th quarter. Corient Private Wealth LLC now owns 185,873 shares of the company’s stock valued at $4,547,000 after acquiring an additional 52,376 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on APA shares. BMO Capital Markets cut their target price on APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research report on Wednesday, May 13th. Royal Bank Of Canada boosted their price target on APA from $29.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Evercore upped their price objective on shares of APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 24th. Citigroup increased their price objective on shares of APA from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group raised their target price on shares of APA from $31.00 to $34.00 and gave the company a “sell” rating in a report on Tuesday, May 19th. Eight research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.08.
Insider Buying and Selling
In other news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.
APA Trading Down 1.2%
Shares of APA stock opened at $33.01 on Friday. APA Corporation has a fifty-two week low of $17.86 and a fifty-two week high of $45.66. The stock’s fifty day moving average price is $37.07 and its two-hundred day moving average price is $32.62. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $11.67 billion, a PE ratio of 7.69 and a beta of 0.33.
APA (NASDAQ:APA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the firm earned $1.06 EPS. APA’s revenue was down 11.7% on a year-over-year basis. Equities analysts predict that APA Corporation will post 5.6 EPS for the current fiscal year.
APA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 3.0%. APA’s payout ratio is presently 23.31%.
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.
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