Canandaigua National Bank & Trust Co. bought a new position in shares of APA Corporation (NASDAQ:APA – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 27,839 shares of the company’s stock, valued at approximately $907,000.
Other hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management grew its holdings in APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of APA in the first quarter valued at about $28,000. Summit Securities Group LLC boosted its position in shares of APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares during the period. Camelot Portfolios LLC acquired a new position in shares of APA in the fourth quarter valued at about $37,000. Finally, Global Assets Advisory LLC acquired a new position in shares of APA in the first quarter valued at about $44,000. 83.01% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
APA has been the topic of a number of analyst reports. Zacks Research lowered shares of APA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Citigroup reiterated a “neutral” rating on shares of APA in a research report on Tuesday, July 21st. Barclays increased their price target on APA from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. UBS Group dropped their price objective on APA from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Finally, Truist Financial cut their target price on APA from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, APA has an average rating of “Hold” and an average target price of $40.35.
APA Stock Down 3.2%
APA stock opened at $34.66 on Thursday. The stock has a market capitalization of $12.25 billion, a P/E ratio of 8.08 and a beta of 0.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. APA Corporation has a 12 month low of $17.86 and a 12 month high of $45.66. The firm has a 50-day moving average price of $35.10 and a 200-day moving average price of $34.59.
APA (NASDAQ:APA – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.46 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. During the same period last year, the business earned $0.87 EPS. As a group, equities research analysts anticipate that APA Corporation will post 4.92 EPS for the current fiscal year.
APA Announces Dividend
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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s payout ratio is presently 23.31%.
Insider Transactions at APA
In other news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction 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 trade 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 is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.
APA Company 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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