APA Corporation $APA Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in APA Corporation (NASDAQ:APA) by 69.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,362 shares of the company’s stock after acquiring an additional 32,456 shares during the period. CIBC Asset Management Inc’s holdings in APA were worth $1,941,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in APA. Atlantic Union Bankshares Corp purchased a new position in shares of APA in the third quarter worth approximately $34,000. Camelot Portfolios LLC purchased a new position in shares of APA in the fourth quarter worth approximately $37,000. Community Bank N.A. purchased a new position in shares of APA in the third quarter worth approximately $43,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of APA in the fourth quarter worth approximately $47,000. Finally, Virtus Advisers LLC purchased a new position in shares of APA in the third quarter worth approximately $57,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Price Performance

NASDAQ APA opened at $37.66 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $13.31 billion, a PE ratio of 8.78 and a beta of 0.34. The company has a 50 day moving average price of $38.79 and a two-hundred day moving average price of $31.72. APA Corporation has a 12-month low of $17.74 and a 12-month high of $45.66.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The company’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. As a group, equities analysts predict that APA Corporation will post 5.18 earnings per share 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 paid a $0.25 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. APA’s payout ratio is 23.31%.

Insider Buying and Selling

In other APA news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total transaction of $833,290.00. Following the completion of the sale, the director owned 6,634 shares of the company’s stock, valued at $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on APA shares. Truist Financial lifted their target price on shares of APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 20th. Benchmark lifted their target price on shares of APA from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Evercore lifted their target price 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. Bank of America lifted their target price on shares of APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a research report on Monday, March 16th. Finally, Morgan Stanley lifted their target price on shares of APA from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, APA currently has a consensus rating of “Hold” and a consensus target price of $40.96.

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.