APA Corporation $APA Shares Sold by Lipe & Dalton

Lipe & Dalton reduced its position in APA Corporation (NASDAQ:APA) by 77.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,300 shares of the company’s stock after selling 21,240 shares during the period. Lipe & Dalton’s holdings in APA were worth $267,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in APA by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after purchasing an additional 2,070 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of APA by 49.6% in the 1st quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock valued at $227,000 after purchasing an additional 3,578 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of APA by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock valued at $56,092,000 after purchasing an additional 806,252 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of APA by 10.6% during the 1st quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after buying an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in APA during the 2nd quarter valued at $5,199,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APA. Morgan Stanley decreased their target price on APA from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, June 26th. Evercore lifted their price target on APA from $25.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, March 24th. Roth Capital raised shares of APA from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $37.00 to $38.00 in a report on Monday, June 22nd. Jefferies Financial Group upped their price target on shares of APA from $26.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Finally, Truist Financial increased their price objective on shares of APA from $38.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, APA presently has a consensus rating of “Hold” and an average target price of $40.88.

APA Stock Performance

Shares of APA opened at $35.06 on Thursday. The company has a 50-day moving average of $36.34 and a two-hundred day moving average of $33.10. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 8.17 and a beta of 0.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. APA Corporation has a one year low of $17.86 and a one year high of $45.66.

APA (NASDAQ:APA) last released its quarterly 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 business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 earnings per share. On average, equities research analysts expect that APA Corporation will post 5.29 earnings per share for the current year.

APA Announces Dividend

The company 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. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s payout ratio is 23.31%.

Insider Transactions at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction 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 owned 66,810 shares in the company, valued at $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by company insiders.

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.