DekaBank Deutsche Girozentrale Sells 2,887 Shares of APA Co. (NASDAQ:APA)

DekaBank Deutsche Girozentrale cut its position in APA Co. (NASDAQ:APA) by 11.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,426 shares of the company’s stock after selling 2,887 shares during the period. DekaBank Deutsche Girozentrale’s holdings in APA were worth $575,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in APA by 35.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,945 shares of the company’s stock worth $514,000 after acquiring an additional 3,902 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of APA by 49.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,769 shares of the company’s stock valued at $955,000 after purchasing an additional 9,133 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of APA by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 744,263 shares of the company’s stock valued at $25,588,000 after purchasing an additional 6,002 shares in the last quarter. Norden Group LLC purchased a new position in APA during the first quarter worth about $355,000. Finally, Maryland State Retirement & Pension System grew its position in APA by 20.4% during the first quarter. Maryland State Retirement & Pension System now owns 28,522 shares of the company’s stock worth $920,000 after buying an additional 4,839 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APA. Truist Financial lifted their price target on APA from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein reduced their price target on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Evercore ISI reduced their price target on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Scotiabank reduced their target price on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler reduced their target price on APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, APA has an average rating of “Hold” and a consensus target price of $34.18.

APA Stock Down 2.2 %

Shares of NASDAQ APA opened at $23.09 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 2.52 and a beta of 3.23. The stock has a 50 day moving average price of $25.50 and a 200 day moving average price of $28.37. APA Co. has a 52-week low of $22.72 and a 52-week high of $40.93.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. APA’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Sell-side analysts expect that APA Co. will post 4.01 earnings per share for the current year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is presently 10.91%.

APA Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.