APA Corporation $APA Stock Position Decreased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC significantly reduced its stake in APA Corporation by 90.3% during Q2, leaving it with only 20,049 shares worth $380,000.
• While Allspring sold a large number of shares, other investors like Golden State Wealth Management LLC and TD Private Client Wealth LLC increased their positions in APA, indicating mixed sentiment among institutional investors.
• Wall Street analysts have a consensus target price of $24.63 for APA, with four analysts rating it as a Buy and sixteen as Hold.

Allspring Global Investments Holdings LLC cut its position in shares of APA Corporation (NASDAQ:APA - Free Report) by 90.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,049 shares of the company's stock after selling 187,161 shares during the period. Allspring Global Investments Holdings LLC's holdings in APA were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APA. Golden State Wealth Management LLC raised its stake in shares of APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after purchasing an additional 1,382 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in APA by 144.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock valued at $34,000 after buying an additional 1,104 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in APA in the 2nd quarter valued at approximately $49,000. SVB Wealth LLC acquired a new stake in APA in the 1st quarter valued at approximately $55,000. Finally, Allworth Financial LP grew its holdings in APA by 122.5% in the 1st quarter. Allworth Financial LP now owns 3,084 shares of the company's stock valued at $65,000 after buying an additional 1,698 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on APA shares. BMO Capital Markets raised their target price on APA from $28.00 to $30.00 and gave the company a "market perform" rating in a report on Monday, October 13th. Cfra Research upgraded shares of APA to a "hold" rating in a research note on Friday, August 8th. Evercore ISI lifted their price target on shares of APA from $16.00 to $21.00 in a research note on Monday, October 13th. Wells Fargo & Company boosted their price target on APA from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Friday, August 15th. Finally, Wolfe Research lifted their price objective on APA from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 20th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, APA has an average rating of "Hold" and a consensus target price of $24.63.

APA Stock Down 3.2%

Shares of APA stock opened at $23.83 on Friday. APA Corporation has a 12 month low of $13.58 and a 12 month high of $25.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market cap of $8.53 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 6.86 and a beta of 1.16. The business has a fifty day simple moving average of $23.18 and a 200 day simple moving average of $19.82.

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

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.2%. APA's dividend payout ratio is currently 33.44%.

APA 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.

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