Allspring Global Investments Holdings LLC Acquires 21,630 Shares of APA Corporation (NASDAQ:APA)

Allspring Global Investments Holdings LLC grew its position in shares of APA Corporation (NASDAQ:APA - Free Report) by 11.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,210 shares of the company's stock after purchasing an additional 21,630 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of APA worth $4,378,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Brown Brothers Harriman & Co. increased its position in shares of APA by 1,087.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock worth $27,000 after purchasing an additional 1,077 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after buying an additional 1,382 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of APA during the fourth quarter worth about $35,000. Rakuten Securities Inc. grew its holdings in shares of APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after buying an additional 1,288 shares during the last quarter. Finally, Siemens Fonds Invest GmbH purchased a new stake in APA in the 4th quarter valued at approximately $42,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APA. Citigroup lifted their price target on shares of APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Royal Bank Of Canada cut their price objective on APA from $27.00 to $24.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Morgan Stanley lifted their price objective on APA from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday, May 23rd. Susquehanna cut their price objective on APA from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group restated a "sell" rating and set a $23.00 price objective on shares of APA in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, APA has a consensus rating of "Hold" and an average target price of $24.83.

APA Price Performance

Shares of APA stock traded down $0.12 on Monday, hitting $19.41. The company had a trading volume of 6,744,657 shares, compared to its average volume of 8,315,064. The business has a 50-day simple moving average of $17.97 and a 200-day simple moving average of $19.76. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $7.02 billion, a PE ratio of 6.98, a PEG ratio of 6.18 and a beta of 1.25. APA Corporation has a 52 week low of $13.58 and a 52 week high of $33.41.

APA (NASDAQ:APA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period last year, the firm posted $0.78 earnings per share. The firm's revenue for the quarter was up 35.1% compared to the same quarter last year. Research analysts expect that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.15%. APA's payout ratio is 35.97%.

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.