APA Corporation (NASDAQ:APA) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in APA Corporation by 13.4%, owning 99,683 shares after selling 15,421 shares, which were valued at approximately $2.1 million.
• APA reported earnings of $0.87 per share, significantly exceeding the consensus estimate of $0.45, but revenues declined by 14.4% year-over-year to $2.18 billion.
• Several brokerages adjusted their target prices for APA, with the consensus rating remaining a "Hold" and the average target price set at $23.53.

Natixis Advisors LLC trimmed its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,683 shares of the company's stock after selling 15,421 shares during the period. Natixis Advisors LLC's holdings in APA were worth $2,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Howard Capital Management Inc. increased its holdings in APA by 2.6% in the first quarter. Howard Capital Management Inc. now owns 90,627 shares of the company's stock valued at $1,905,000 after buying an additional 2,317 shares in the last quarter. Arkadios Wealth Advisors increased its stake in shares of APA by 68.4% in the 1st quarter. Arkadios Wealth Advisors now owns 33,672 shares of the company's stock valued at $708,000 after purchasing an additional 13,673 shares in the last quarter. Vestcor Inc increased its stake in shares of APA by 377.3% in the 1st quarter. Vestcor Inc now owns 25,819 shares of the company's stock valued at $543,000 after purchasing an additional 20,410 shares in the last quarter. XTX Topco Ltd acquired a new position in APA in the 1st quarter worth about $682,000. Finally, Federated Hermes Inc. boosted its position in APA by 485.2% during the first quarter. Federated Hermes Inc. now owns 3,394 shares of the company's stock worth $71,000 after purchasing an additional 2,814 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on APA. Morgan Stanley upped their target price on APA from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Friday, May 23rd. UBS Group restated a "neutral" rating and set a $19.00 price objective (up from $18.00) on shares of APA in a research report on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on shares of APA from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Mizuho reduced their price target on shares of APA from $20.00 to $19.00 and set an "underperform" rating for the company in a research report on Tuesday, May 13th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 price target (up from $25.00) on shares of APA in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $23.53.

APA Price Performance

APA stock opened at $19.46 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $19.10 and a 200 day moving average price of $19.13. APA Corporation has a 12-month low of $13.58 and a 12-month high of $29.88. The stock has a market cap of $7.04 billion, a P/E ratio of 6.51, a PEG ratio of 5.90 and a beta of 1.23.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.42. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 21.46%. The business's revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 EPS. Sell-side analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 5.1%. APA's dividend payout ratio (DPR) 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.

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