Lipe & Dalton Reduces Stock Position in APA Corporation $APA

Lipe & Dalton decreased its position in shares of APA Corporation (NASDAQ:APA) by 77.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,300 shares of the company’s stock after selling 21,240 shares during the quarter. Lipe & Dalton’s holdings in APA were worth $267,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in APA by 57.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 306,195 shares of the company’s stock worth $7,765,000 after buying an additional 111,777 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of APA by 71.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 185,818 shares of the company’s stock valued at $4,437,000 after acquiring an additional 77,125 shares in the last quarter. Gotham Asset Management LLC boosted its stake in shares of APA by 49.5% during the third quarter. Gotham Asset Management LLC now owns 1,578,720 shares of the company’s stock valued at $38,331,000 after acquiring an additional 522,673 shares during the last quarter. Friedenthal Financial purchased a new stake in APA during the 4th quarter worth about $938,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in APA by 59.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,895 shares of the company’s stock worth $2,761,000 after purchasing an additional 42,068 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APA has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of APA from $34.00 to $32.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. BMO Capital Markets decreased their target price on shares of APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 13th. Jefferies Financial Group lifted their target price 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. Capital One Financial increased their price target on APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Mizuho lifted their price objective on APA from $32.00 to $36.00 and gave the company an “underperform” rating in a research report on Wednesday, May 27th. Eight investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, APA currently has an average rating of “Hold” and an average price target of $40.88.

Insider Buying and Selling at APA

In other news, 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 in the company, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by insiders.

APA Trading Up 3.1%

Shares of APA stock opened at $35.06 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. APA Corporation has a fifty-two week low of $17.86 and a fifty-two week high of $45.66. The firm’s 50 day moving average price is $36.34 and its two-hundred day moving average price is $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.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, analysts anticipate that APA Corporation will post 5.29 EPS for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. APA’s dividend payout ratio is presently 23.31%.

APA Company 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.