UBS Group AG Sells 390,187 Shares of APA Co. (NASDAQ:APA)

UBS Group AG trimmed its position in APA Co. (NASDAQ:APAGet Rating) by 34.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 727,358 shares of the company’s stock after selling 390,187 shares during the quarter. UBS Group AG’s holdings in APA were worth $25,385,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its holdings in shares of APA by 52.0% in the first quarter. Mercer Global Advisors Inc. ADV now owns 21,574 shares of the company’s stock worth $892,000 after purchasing an additional 7,380 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of APA by 88.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 190,174 shares of the company’s stock worth $6,637,000 after purchasing an additional 89,150 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of APA by 1,802.8% in the first quarter. First Horizon Advisors Inc. now owns 6,717 shares of the company’s stock worth $277,000 after purchasing an additional 6,364 shares during the last quarter. Savant Capital LLC bought a new stake in shares of APA in the first quarter worth about $247,000. Finally, Patten Group Inc. increased its holdings in shares of APA by 9.1% in the second quarter. Patten Group Inc. now owns 6,420 shares of the company’s stock worth $222,000 after purchasing an additional 535 shares during the last quarter. 83.36% of the stock is owned by institutional investors.

APA Trading Down 2.1 %

APA opened at $46.78 on Friday. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of 4.47, a P/E/G ratio of 0.26 and a beta of 3.70. The stock’s 50 day moving average price is $44.29 and its 200-day moving average price is $39.53. APA Co. has a one year low of $22.94 and a one year high of $51.95. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.05 and a current ratio of 1.05.

APA (NASDAQ:APAGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.05. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.35 billion. APA had a return on equity of 325.67% and a net margin of 33.83%. APA’s quarterly revenue was up 40.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, equities analysts forecast that APA Co. will post 8.1 EPS for the current year.

APA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Friday, October 21st were issued a $0.25 dividend. This is a positive change from APA’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. APA’s payout ratio is presently 9.55%.

APA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, September 14th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on APA shares. Susquehanna reduced their target price on APA from $52.00 to $49.00 and set a “positive” rating on the stock in a report on Friday, August 5th. The Goldman Sachs Group boosted their price objective on APA from $38.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 19th. Morgan Stanley reduced their price objective on APA from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Monday, August 29th. StockNews.com cut APA from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 5th. Finally, Mizuho reduced their price objective on APA from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, APA has an average rating of “Moderate Buy” and a consensus price target of $52.39.

APA Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding APA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for APA Co. (NASDAQ:APAGet Rating).

Institutional Ownership by Quarter for APA (NASDAQ:APA)

Receive News & Ratings for APA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for APA and related companies with MarketBeat.com's FREE daily email newsletter.