Griffin Asset Management Inc. lessened its holdings in shares of APA Co. (NASDAQ:APA - Free Report) by 79.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,000 shares of the company's stock after selling 106,407 shares during the period. Griffin Asset Management Inc.'s holdings in APA were worth $568,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in 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. Riverview Trust Co increased its holdings in APA by 5,718.2% in the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company's stock worth $30,000 after purchasing an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in APA by 77.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company's stock valued at $31,000 after buying an additional 586 shares during the period. Runnymede Capital Advisors Inc. bought a new position in shares of APA during the 4th quarter worth approximately $35,000. Finally, Siemens Fonds Invest GmbH bought a new position in shares of APA during the 4th quarter worth approximately $42,000. Institutional investors own 83.01% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on APA shares. Wells Fargo & Company dropped their target price on shares of APA from $23.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday. Susquehanna cut their price objective on shares of APA from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on APA from $23.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Mizuho dropped their price target on APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Argus upgraded APA to a "hold" rating in a report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $24.72.
View Our Latest Report on APA
APA Stock Up 1.4%
NASDAQ:APA traded up $0.28 on Tuesday, hitting $20.78. The stock had a trading volume of 9,522,261 shares, compared to its average volume of 7,095,255. APA Co. has a 1 year low of $13.58 and a 1 year high of $33.41. The firm's fifty day simple moving average is $17.01 and its two-hundred day simple moving average is $20.03. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $7.52 billion, a P/E ratio of 2.94 and a beta of 1.25.
APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.17 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. APA's revenue was up 35.1% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. Analysts predict that APA Co. will post 4.03 earnings per share for the current year.
APA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's dividend payout ratio (DPR) is currently 35.97%.
About APA
(
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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