one8zero8 LLC Cuts Stock Position in APA Corporation (NASDAQ:APA)

Key Points

• one8zero8 LLC reduced its holdings in APA Corporation by 21.4%, owning 64,112 shares worth $1,348,000 at the end of the first quarter.
• APA Corporation reported $1.06 earnings per share (EPS) for the most recent quarter, surpassing the consensus estimate of $0.83, with revenue increasing by 35.1% year-over-year to $2.61 billion.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized yield of 5.24%, with a payout ratio of 35.97%.

one8zero8 LLC decreased its stake in APA Corporation (NASDAQ:APA - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,112 shares of the company's stock after selling 17,422 shares during the period. one8zero8 LLC's holdings in APA were worth $1,348,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC grew its position in shares of APA by 0.4% during the 4th quarter. ProShare Advisors LLC now owns 113,913 shares of the company's stock worth $2,630,000 after buying an additional 449 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in shares of APA by 1.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company's stock worth $1,018,000 after purchasing an additional 517 shares in the last quarter. Albert D Mason Inc. raised its stake in APA by 5.7% in the 1st quarter. Albert D Mason Inc. now owns 12,261 shares of the company's stock valued at $258,000 after acquiring an additional 657 shares during the period. Greenwood Capital Associates LLC increased its position in APA by 2.7% during the 1st quarter. Greenwood Capital Associates LLC now owns 28,107 shares of the company's stock worth $591,000 after buying an additional 730 shares during the period. Finally, Lipe & Dalton boosted its stake in shares of APA by 3.5% in the 1st quarter. Lipe & Dalton now owns 23,290 shares of the company's stock valued at $490,000 after purchasing an additional 780 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APA. Citigroup increased their price target on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. lifted their target price on APA from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Morgan Stanley upped their price objective on APA from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Friday, May 23rd. Barclays increased their price target on APA from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Finally, UBS Group reissued a "neutral" rating and set a $19.00 price objective (up previously from $18.00) on shares of APA in a report on Monday, July 14th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $23.50.

APA Stock Down 1.0%

Shares of NASDAQ APA traded down $0.20 during midday trading on Wednesday, hitting $19.48. The stock had a trading volume of 2,981,333 shares, compared to its average volume of 8,006,639. The company has a market cap of $7.05 billion, a P/E ratio of 7.00, a PEG ratio of 6.39 and a beta of 1.25. 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 business's 50 day moving average is $18.85 and its 200-day moving average is $19.38. 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 posted its earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.23. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.17 billion. APA had a return on equity of 23.22% and a net margin of 9.75%. The company's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. As a group, analysts predict that APA Corporation will post 4.03 EPS for the current year.

APA Announces Dividend

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. 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 5.13%. APA's dividend payout ratio is presently 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.