Evergreen Capital Management LLC Has $9.11 Million Stock Holdings in APA Corporation $APA

Key Points

• Evergreen Capital cut its stake in APA by 63.3% in Q4, selling 641,279 shares and retaining 372,237 shares worth about $9.11 million.
• APA beat Q4 expectations with $0.91 EPS (vs. $0.62 est.) and $1.99B revenue (vs. $1.89B est.), but analysts still place a consensus "Hold" rating with an average price target of $38.69 after several upward revisions.
• The company declared a quarterly dividend of $0.25 ($1.00 annualized) for a 2.8% yield, with record and ex-dividend dates on April 22 and payment on May 22.

Evergreen Capital Management LLC lessened its holdings in APA Corporation (NASDAQ:APA - Free Report) by 63.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 372,237 shares of the company's stock after selling 641,279 shares during the period. Evergreen Capital Management LLC owned about 0.10% of APA worth $9,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of APA by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company's stock worth $700,000 after buying an additional 2,070 shares during the period. NewEdge Advisors LLC boosted its position in shares of APA by 49.6% in the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company's stock worth $227,000 after buying an additional 3,578 shares during the period. Goldman Sachs Group Inc. boosted its position in APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company's stock valued at $56,092,000 after purchasing an additional 806,252 shares during the last quarter. Focus Partners Wealth boosted its position in APA by 10.6% during the first quarter. Focus Partners Wealth now owns 44,833 shares of the company's stock valued at $942,000 after purchasing an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in APA during the second quarter valued at $5,199,000. Institutional investors and hedge funds own 83.01% of the company's stock.

Insider Buying and Selling at APA

In other APA news, Director Matthew Regis Bob sold 23,000 shares of the business's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director owned 6,634 shares of the company's stock, valued at $240,349.82. The trade was a 77.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on APA shares. Truist Financial lifted their price objective on APA from $38.00 to $39.00 and gave the company a "hold" rating in a research report on Monday. Raymond James Financial lifted their price objective on APA from $31.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, March 25th. Benchmark lifted their price objective on APA from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. lifted their price objective on APA from $29.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, March 20th. Finally, BMO Capital Markets lifted their price objective on APA from $35.00 to $47.00 and gave the company a "market perform" rating in a research report on Tuesday, April 7th. Seven investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $38.69.

APA Price Performance

Shares of NASDAQ:APA opened at $35.97 on Tuesday. APA Corporation has a fifty-two week low of $15.15 and a fifty-two week high of $45.66. The business has a 50-day moving average of $35.03 and a two-hundred day moving average of $28.32. The stock has a market capitalization of $12.71 billion, a P/E ratio of 9.02 and a beta of 0.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.29. APA had a return on equity of 19.89% and a net margin of 15.55%.The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business's quarterly revenue was down 26.6% compared to the same quarter last year. On average, equities research analysts predict that APA Corporation will post 4.31 EPS for the current fiscal year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. APA's payout ratio is currently 25.06%.

About APA

APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

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