Entropy Technologies LP lessened its stake in APA Corporation (NASDAQ:APA - Free Report) by 49.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,674 shares of the company's stock after selling 16,186 shares during the quarter. Entropy Technologies LP's holdings in APA were worth $350,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of APA by 3,303.0% during the first quarter. GAMMA Investing LLC now owns 268,194 shares of the company's stock worth $5,637,000 after purchasing an additional 260,313 shares during the period. Fifth Third Bancorp increased its stake in APA by 14.5% during the 1st quarter. Fifth Third Bancorp now owns 26,137 shares of the company's stock worth $549,000 after purchasing an additional 3,306 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in APA by 11.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 207,210 shares of the company's stock worth $4,378,000 after purchasing an additional 21,630 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in APA by 34.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 269,512 shares of the company's stock worth $5,665,000 after purchasing an additional 68,725 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in 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. Institutional investors own 83.01% of the company's stock.
Analyst Upgrades and Downgrades
APA has been the subject of a number of research reports. Morgan Stanley increased 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. Stephens assumed coverage on APA in a research note on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 target price for the company. Royal Bank Of Canada decreased their price objective on APA from $24.00 to $22.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. Roth Capital downgraded APA from a "buy" rating to a "neutral" rating and set a $22.00 price objective for the company. in a report on Wednesday. Finally, Cowen reiterated a "hold" rating on shares of APA in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $23.56.
Read Our Latest Stock Analysis on APA
APA Stock Performance
APA opened at $20.49 on Friday. 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 $7.33 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 6.24 and a beta of 1.23. The business has a 50 day moving average of $19.36 and a 200-day moving average of $19.02. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.
APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the firm posted $1.17 earnings per share. The business's revenue was down 14.4% on a year-over-year basis. On average, equities research analysts expect that APA Corporation will post 4.03 earnings per share for the current year.
APA Dividend Announcement
The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's dividend payout ratio (DPR) is presently 33.44%.
APA Company Profile
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Free Report)
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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