APA Co. (NASDAQ:APA) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC trimmed its stake in shares of APA Co. (NASDAQ:APA) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,650 shares of the company’s stock after selling 1,500 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in APA were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of APA by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock worth $1,714,656,000 after purchasing an additional 2,003,862 shares in the last quarter. BlackRock Inc. raised its holdings in shares of APA by 4.1% in the 1st quarter. BlackRock Inc. now owns 27,525,712 shares of the company’s stock worth $992,577,000 after purchasing an additional 1,073,681 shares in the last quarter. Smead Capital Management Inc. raised its holdings in shares of APA by 3.8% in the 3rd quarter. Smead Capital Management Inc. now owns 4,609,497 shares of the company’s stock worth $189,450,000 after purchasing an additional 167,934 shares in the last quarter. Morgan Stanley raised its holdings in shares of APA by 3.6% in the 4th quarter. Morgan Stanley now owns 4,458,954 shares of the company’s stock worth $208,144,000 after purchasing an additional 153,743 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of APA by 6.7% in the 1st quarter. Northern Trust Corp now owns 3,655,854 shares of the company’s stock worth $151,097,000 after purchasing an additional 229,516 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Scotiabank reiterated a “sector perform” rating and issued a $37.00 target price (down from $43.00) on shares of APA in a report on Tuesday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price target on shares of APA in a report on Monday, April 8th. Truist Financial cut their price target on shares of APA from $59.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Susquehanna cut their price target on shares of APA from $53.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, January 26th. Finally, Morgan Stanley restated an “underweight” rating and set a $28.00 price target on shares of APA in a report on Monday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.80.

APA Price Performance

NASDAQ APA opened at $32.26 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $32.28 and a 200 day simple moving average of $34.73. The company has a market cap of $9.71 billion, a P/E ratio of 3.48 and a beta of 3.27. APA Co. has a 1 year low of $29.47 and a 1 year high of $46.15.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. APA’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. On average, sell-side analysts predict that APA Co. will post 4.6 EPS for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.10%. The ex-dividend date is Friday, April 19th. APA’s payout ratio is currently 10.78%.

APA Company Profile

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.