APA Corporation (NASDAQ:APA – Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $37.02, but opened at $34.73. APA shares last traded at $34.9520, with a volume of 861,407 shares trading hands.
Wall Street Analyst Weigh In
APA has been the subject of several research analyst reports. Roth Mkm lifted their price objective on APA from $27.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Barclays boosted their target price on APA from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Morgan Stanley boosted their target price on APA from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. boosted their target price on APA from $38.00 to $41.00 in a research report on Friday, May 8th. Finally, Benchmark boosted their target price on APA from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Eight investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, APA currently has an average rating of “Hold” and an average price target of $41.04.
APA Stock Down 5.4%
APA (NASDAQ:APA – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 earnings per share. On average, equities research analysts predict that APA Corporation will post 5.59 EPS for the current year.
APA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, July 22nd. APA’s dividend payout ratio is currently 23.31%.
Insider Transactions at APA
In related news, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director owned 6,634 shares in the company, valued at approximately $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction dated 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 owned 66,810 shares of the company’s stock, valued at $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.73% of the company’s stock.
Institutional Investors Weigh In On APA
Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of APA by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company’s stock worth $695,099,000 after acquiring an additional 1,055,016 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of APA by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,710,034 shares of the company’s stock worth $359,807,000 after acquiring an additional 285,542 shares in the last quarter. Morgan Stanley increased its holdings in shares of APA by 21.8% in the fourth quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after acquiring an additional 1,864,900 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of APA by 76.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock worth $175,426,000 after buying an additional 3,117,032 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of APA by 1,726.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after buying an additional 4,569,779 shares during the period. 83.01% of the stock is currently owned by institutional investors.
About APA
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 Stories
- Five stocks we like better than APA
- RH’s Strong Q1 Still Leaves Investors With One Big Question
- Iran Ceasefire or Not, These 3 Companies Could Win
- Gold Is Testing Its 200-Day SMA—These 3 Mining Stocks Are the Play
- Summer Is Coming–But There’s No End in Sight for This Crypto Winter
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.
