Quarry LP Sells 965 Shares of APA Co. (NASDAQ:APA)

Quarry LP reduced its stake in shares of APA Co. (NASDAQ:APA) by 52.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 883 shares of the company’s stock after selling 965 shares during the period. Quarry LP’s holdings in APA were worth $26,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American National Bank lifted its position in shares of APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares in the last quarter. Covestor Ltd lifted its position in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after buying an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of APA in the second quarter valued at approximately $42,000. Finally, GPS Wealth Strategies Group LLC increased its position in shares of APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APA. Piper Sandler reduced their price objective on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. UBS Group decreased their price objective on shares of APA from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Citigroup dropped their target price on shares of APA from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Wells Fargo & Company decreased their price target on shares of APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Scotiabank dropped their price objective on APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.95.

APA Stock Up 0.3 %

Shares of NASDAQ APA opened at $26.97 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average of $26.98 and a 200-day moving average of $29.56. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 3.02 and a beta of 3.23. APA Co. has a 12 month low of $22.72 and a 12 month high of $43.58.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. Sell-side analysts expect that APA Co. will post 4.04 earnings per share for the current fiscal year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.71%. APA’s dividend payout ratio (DPR) is presently 11.19%.

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.