Wedge Capital Management L L P NC Trims Position in APA Corporation $APA

Wedge Capital Management L L P NC trimmed its holdings in shares of APA Corporation (NASDAQ:APA – Free Report) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 410,408 shares of the company’s stock after selling 39,589 shares during the period. Wedge Capital Management L L P NC owned approximately 0.12% of APA worth $13,367,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Hollencrest Capital Management lifted its position in APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new stake in APA during the 1st quarter worth about $28,000. Global Assets Advisory LLC acquired a new stake in APA during the 1st quarter worth about $44,000. Altshuler Shaham Ltd raised its stake in shares of APA by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock valued at $52,000 after buying an additional 330 shares during the last quarter. Finally, Summit Securities Group LLC raised its stake in shares of APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after buying an additional 710 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Get APA alerts:

Insider Activity at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the sale, the vice president directly owned 66,810 shares in the company, valued at $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APA. Citigroup reissued a “neutral” rating on shares of APA in a report on Tuesday, July 21st. Barclays raised their target price on APA from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Zacks Research downgraded APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. UBS Group decreased their price target 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 upped their price objective on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.30.

Get Our Latest Analysis on APA

APA Trading Down 1.6%

Shares of APA stock opened at $39.97 on Thursday. The firm has a 50-day simple moving average of $35.28 and a two-hundred day simple moving average of $35.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. APA Corporation has a fifty-two week low of $19.96 and a fifty-two week high of $45.66. The company has a market cap of $14.00 billion, a P/E ratio of 8.45 and a beta of 0.35.

APA (NASDAQ:APA – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same quarter last year, the business earned $0.87 earnings per share. As a group, equities analysts predict that APA Corporation will post 5.16 earnings per share for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio (DPR) is presently 21.14%.

APA Company Profile

(Free Report)

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.

Featured Articles

• Five stocks we like better than APA
• GE Vernova’s AI Power Boom Faces a Profit Test
• Cardinal Health Earnings: Can Perfection Get Priced In Twice?
• Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand
• Legacy Jet Builders Stall While Embraer Accelerates to New Highs

Want to see what other hedge funds are holding APA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for APA Corporation (NASDAQ:APA – Free Report).

Receive News & Ratings for APA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for APA and related companies with MarketBeat.com's FREE daily email newsletter.