abrdn plc Sells 61,558 Shares of APA Co. (NASDAQ:APA)

abrdn plc lessened its stake in APA Co. (NASDAQ:APAGet Rating) by 50.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,769 shares of the company’s stock after selling 61,558 shares during the period. abrdn plc’s holdings in APA were worth $2,539,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Albert D Mason Inc. lifted its stake in shares of APA by 2.5% in the first quarter. Albert D Mason Inc. now owns 10,978 shares of the company’s stock valued at $454,000 after buying an additional 270 shares during the period. Profund Advisors LLC lifted its stake in shares of APA by 1.9% in the fourth quarter. Profund Advisors LLC now owns 18,687 shares of the company’s stock valued at $502,000 after buying an additional 348 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of APA by 14.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,375 shares of the company’s stock valued at $91,000 after buying an additional 414 shares during the period. Xponance Inc. lifted its stake in shares of APA by 1.8% in the first quarter. Xponance Inc. now owns 23,177 shares of the company’s stock valued at $958,000 after buying an additional 416 shares during the period. Finally, Mutual of America Capital Management LLC lifted its stake in shares of APA by 1.0% in the first quarter. Mutual of America Capital Management LLC now owns 48,481 shares of the company’s stock valued at $2,004,000 after buying an additional 497 shares during the period. Institutional investors own 84.08% of the company’s stock.

APA Stock Performance

Shares of APA stock opened at $37.17 on Monday. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $12.57 billion, a P/E ratio of 5.31, a P/E/G ratio of 0.18 and a beta of 4.06. The firm has a 50 day simple moving average of $39.64 and a 200 day simple moving average of $38.51. APA Co. has a fifty-two week low of $15.55 and a fifty-two week high of $51.95.

APA (NASDAQ:APAGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.16). The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.44 billion. APA had a net margin of 30.21% and a return on equity of 11,632.79%. The business’s revenue for the quarter was up 42.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. Sell-side analysts predict that APA Co. will post 9.96 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Friday, July 22nd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Thursday, July 21st. APA’s dividend payout ratio is presently 7.14%.

Insiders Place Their Bets

In other APA news, insider P Anthony Lannie sold 86,750 shares of APA stock in a transaction on Monday, May 16th. The shares were sold at an average price of $41.26, for a total transaction of $3,579,305.00. Following the completion of the sale, the insider now owns 58,844 shares of the company’s stock, valued at approximately $2,427,903.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on APA shares. The Goldman Sachs Group cut their price target on shares of APA from $52.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 5th. MKM Partners restated a “buy” rating and set a $45.00 price target on shares of APA in a research note on Wednesday, July 20th. Raymond James raised their price target on shares of APA from $59.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 25th. Truist Financial raised their price target on shares of APA from $55.00 to $65.00 in a research note on Thursday, April 21st. Finally, Mizuho cut their price target on shares of APA from $60.00 to $56.00 in a research note on Tuesday, July 19th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.63.

About APA

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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