APA Co. (NASDAQ:APA) Shares Sold by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC cut its stake in shares of APA Co. (NASDAQ:APA) by 52.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,219 shares of the company’s stock after selling 5,843 shares during the quarter. AlphaCentric Advisors LLC’s holdings in APA were worth $178,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in APA. CWM LLC boosted its position in shares of APA by 5.9% during the 1st quarter. CWM LLC now owns 6,144 shares of the company’s stock worth $222,000 after acquiring an additional 340 shares in the last quarter. Private Advisor Group LLC acquired a new position in APA in the first quarter valued at approximately $513,000. Avantax Advisory Services Inc. increased its stake in APA by 86.4% in the first quarter. Avantax Advisory Services Inc. now owns 16,535 shares of the company’s stock valued at $596,000 after purchasing an additional 7,664 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in APA by 110.6% in the first quarter. Oppenheimer & Co. Inc. now owns 32,836 shares of the company’s stock valued at $1,184,000 after purchasing an additional 17,241 shares during the last quarter. Finally, Doliver Advisors LP raised its holdings in APA by 48.9% during the first quarter. Doliver Advisors LP now owns 7,307 shares of the company’s stock worth $263,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 80.48% of the company’s stock.

APA Stock Up 1.5 %

APA stock opened at $36.92 on Friday. The company’s 50-day moving average price is $40.91 and its 200 day moving average price is $38.19. APA Co. has a 52 week low of $30.67 and a 52 week high of $49.30. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.65. The company has a market cap of $11.32 billion, a P/E ratio of 7.57, a P/E/G ratio of 6.21 and a beta of 3.50.

APA (NASDAQ:APA) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.25. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.02 billion. APA had a return on equity of 92.51% and a net margin of 17.62%. APA’s quarterly revenue was down 20.1% on a year-over-year basis. During the same period last year, the business posted $1.97 EPS. On average, research analysts expect that APA Co. will post 4.92 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, October 23rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, October 20th. APA’s payout ratio is currently 20.49%.

Analyst Ratings Changes

Several equities research analysts recently commented on APA shares. Susquehanna cut their price target on shares of APA from $54.00 to $53.00 and set a “positive” rating on the stock in a research note on Wednesday, October 18th. Sanford C. Bernstein downgraded APA from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $50.00 in a research note on Tuesday, October 17th. Roth Mkm reiterated a “buy” rating and issued a $47.00 price objective on shares of APA in a research note on Friday, October 6th. Bank of America lifted their target price on shares of APA from $55.00 to $57.00 in a report on Wednesday, September 27th. Finally, Truist Financial reissued a “buy” rating and set a $59.00 price objective on shares of APA in a research report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, APA currently has a consensus rating of “Hold” and an average target price of $47.29.

APA Profile

APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. 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, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.