Bank of New York Mellon Corp Cuts Holdings in APA Corporation (NASDAQ:APA)

Bank of New York Mellon Corp lessened its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 11.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,613,655 shares of the company's stock after selling 479,011 shares during the period. Bank of New York Mellon Corp owned about 1.00% of APA worth $75,959,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its holdings in shares of APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock worth $27,000 after acquiring an additional 1,077 shares during the period. Golden State Wealth Management LLC grew its holdings 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 acquiring an additional 1,382 shares during the period. Rakuten Securities Inc. grew its holdings in shares of APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after acquiring an additional 1,288 shares during the period. Runnymede Capital Advisors Inc. purchased a new position in shares of APA during the 4th quarter worth approximately $35,000. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of APA during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 83.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Scotiabank reissued a "sector perform" rating and issued a $22.00 price target (up from $14.00) on shares of APA in a research report on Friday. Piper Sandler lowered their price objective on APA from $22.00 to $19.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. UBS Group reaffirmed a "neutral" rating and issued a $19.00 price objective (up from $18.00) on shares of APA in a research report on Monday. Susquehanna lowered their price target on APA from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price target on APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $24.72.

APA Price Performance

APA stock traded down $0.64 during trading on Monday, reaching $19.47. The company's stock had a trading volume of 5,420,813 shares, compared to its average volume of 7,250,210. APA Corporation has a 1 year low of $13.58 and a 1 year high of $33.41. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $7.04 billion, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 6.49 and a beta of 1.25. The company's fifty day moving average is $18.36 and its 200-day moving average is $19.71.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.23. APA had a return on equity of 23.22% and a net margin of 9.75%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the business posted $0.78 EPS. APA's revenue for the quarter was up 35.1% compared to the same quarter last year. On average, research analysts expect that APA Corporation will post 4.03 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, August 22nd. Stockholders of record on Tuesday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.14%. APA's payout ratio is 35.97%.

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.