APA Corporation $APA Shares Sold by Resona Asset Management Co. Ltd.

Key Points

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Resona Asset Management Co. Ltd. decreased its stake in APA Corporation (NASDAQ:APA - Free Report) by 97.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,359 shares of the company's stock after selling 110,642 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in APA were worth $70,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. ProShare Advisors LLC grew its position in shares of APA by 0.4% in the fourth quarter. ProShare Advisors LLC now owns 113,913 shares of the company's stock valued at $2,630,000 after purchasing an additional 449 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in shares of APA by 1.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company's stock valued at $1,018,000 after purchasing an additional 517 shares during the period. Albert D Mason Inc. grew its position in shares of APA by 5.7% in the first quarter. Albert D Mason Inc. now owns 12,261 shares of the company's stock valued at $258,000 after purchasing an additional 657 shares during the period. Greenwood Capital Associates LLC grew its position in shares of APA by 2.7% in the first quarter. Greenwood Capital Associates LLC now owns 28,107 shares of the company's stock valued at $591,000 after purchasing an additional 730 shares during the period. Finally, Lipe & Dalton grew its position in shares of APA by 3.5% in the first quarter. Lipe & Dalton now owns 23,290 shares of the company's stock valued at $490,000 after purchasing an additional 780 shares during the period. Institutional investors and hedge funds own 83.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APA. Royal Bank Of Canada dropped their target price on shares of APA from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Monday, July 14th. Mizuho lowered their price target on shares of APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial restated an "outperform" rating and set a $26.00 price target (up from $25.00) on shares of APA in a research report on Tuesday, July 22nd. Argus upgraded shares of APA to a "hold" rating in a research report on Friday, May 16th. Finally, Citigroup boosted their price target on shares of APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $23.72.

APA Stock Performance

NASDAQ:APA opened at $20.41 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 6.22 and a beta of 1.23. The company's 50-day moving average is $19.43 and its two-hundred day moving average is $18.93. APA Corporation has a 1-year low of $13.58 and a 1-year high of $29.88.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business's revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Analysts forecast that APA Corporation will post 4.03 EPS for the current year.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's payout ratio is 33.44%.

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.

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