Transcend Capital Advisors LLC Reduces Holdings in APA Corporation $APA

Transcend Capital Advisors LLC trimmed its stake in APA Corporation (NASDAQ:APA) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,200 shares of the company’s stock after selling 1,939 shares during the period. Transcend Capital Advisors LLC’s holdings in APA were worth $296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Golden State Wealth Management LLC increased its stake in shares of APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock worth $30,000 after acquiring an additional 1,382 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of APA by 144.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after acquiring an additional 1,104 shares in the last quarter. CVA Family Office LLC increased its stake in shares of APA by 6,096.7% in the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock worth $34,000 after acquiring an additional 1,829 shares in the last quarter. Whittier Trust Co. increased its stake in shares of APA by 214.3% in the 2nd quarter. Whittier Trust Co. now owns 2,200 shares of the company’s stock worth $40,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new position in shares of APA in the 2nd quarter worth about $49,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on APA shares. Morgan Stanley decreased their price target on shares of APA from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Tuesday, October 14th. Cfra Research upgraded shares of APA to a “hold” rating in a research note on Friday, August 8th. Stephens decreased their price target on shares of APA from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. Piper Sandler increased their price target on shares of APA from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Finally, Cowen restated a “hold” rating on shares of APA in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $24.79.

APA Stock Down 0.8%

Shares of APA stock opened at $22.54 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $8.06 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 6.33 and a beta of 1.16. APA Corporation has a 52-week low of $13.58 and a 52-week high of $25.83. The company has a 50-day simple moving average of $23.33 and a two-hundred day simple moving average of $20.04.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.42. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. On average, analysts anticipate that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.4%. APA’s payout ratio is currently 33.44%.

About APA

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.