Madison Asset Management LLC Sells 20,000 Shares of APA Corporation (NASDAQ:APA)

Madison Asset Management LLC trimmed its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 5.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 338,700 shares of the company's stock after selling 20,000 shares during the quarter. Madison Asset Management LLC owned about 0.09% of APA worth $7,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in APA by 30.7% in the 4th quarter. American Century Companies Inc. now owns 697,224 shares of the company's stock valued at $16,099,000 after purchasing an additional 163,608 shares in the last quarter. Sei Investments Co. increased its position in APA by 121.5% during the fourth quarter. Sei Investments Co. now owns 295,596 shares of the company's stock worth $6,825,000 after buying an additional 162,149 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in APA during the fourth quarter worth $6,465,000. Fox Run Management L.L.C. purchased a new position in APA during the fourth quarter worth $431,000. Finally, LPL Financial LLC increased its position in APA by 45.2% during the fourth quarter. LPL Financial LLC now owns 265,054 shares of the company's stock worth $6,120,000 after buying an additional 82,453 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APA. Raymond James Financial reissued an "outperform" rating and set a $26.00 price target (up previously from $25.00) on shares of APA in a research report on Tuesday. Argus raised APA to a "hold" rating in a research report on Friday, May 16th. Barclays raised their price objective on APA from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Citigroup raised their price objective on APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Finally, Piper Sandler restated a "neutral" rating and set a $21.00 price objective (up previously from $19.00) on shares of APA in a report on Thursday, July 17th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $23.50.

APA Stock Performance

Shares of NASDAQ APA traded down $0.20 during trading on Friday, reaching $19.10. 4,358,857 shares of the company traded hands, compared to its average volume of 8,070,686. The firm has a 50 day simple moving average of $18.72 and a 200-day simple moving average of $19.49. 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 stock has a market capitalization of $6.91 billion, a PE ratio of 6.87, a P/E/G ratio of 6.27 and a beta of 1.25. 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 quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.23. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.17 billion. APA had a net margin of 9.75% and a return on equity of 23.22%. The firm's revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. Equities research analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Tuesday, July 22nd. APA's payout ratio 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.