APA Corporation $APA Shares Sold by WBI Investments LLC

WBI Investments LLC lowered its stake in APA Corporation (NASDAQ:APA) by 74.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 47,104 shares of the company’s stock after selling 138,575 shares during the period. WBI Investments LLC’s holdings in APA were worth $1,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Deseret Mutual Benefit Administrators grew its holdings in shares of APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after acquiring an additional 891 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of APA during the third quarter worth $34,000. Spire Wealth Management lifted its holdings in shares of APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after purchasing an additional 977 shares during the last quarter. MAI Capital Management lifted its holdings in shares of APA by 76.5% during the second quarter. MAI Capital Management now owns 2,134 shares of the company’s stock valued at $39,000 after purchasing an additional 925 shares during the last quarter. Finally, Community Bank N.A. acquired a new position in shares of APA in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APA. Susquehanna lifted their price target on APA from $32.00 to $37.00 and gave the stock a “positive” rating in a research note on Tuesday, March 3rd. UBS Group raised their target price on shares of APA from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. TD Cowen raised shares of APA to a “hold” rating in a research report on Monday, February 9th. Jefferies Financial Group boosted their price target on shares of APA from $22.00 to $26.00 in a report on Monday, March 9th. Finally, Barclays upped their price target on shares of APA from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, March 13th. Seven investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $30.16.

APA Stock Up 3.9%

NASDAQ:APA opened at $35.87 on Wednesday. The business’s fifty day moving average price is $28.32 and its 200 day moving average price is $25.56. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 17.04 and a beta of 0.67. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. APA Corporation has a 1-year low of $13.58 and a 1-year high of $36.00.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. APA had a return on equity of 19.89% and a net margin of 15.55%.The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company posted $0.79 EPS. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, April 22nd. APA’s dividend payout ratio (DPR) is currently 25.06%.

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.