Mitsubishi UFJ Trust & Banking Corp Has $12.39 Million Position in APA Corporation $APA

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in APA by 23.4% in Q4, selling 154,338 shares and leaving 506,392 shares valued at about $12.39 million (0.14% of the company).
• APA director Matthew Regis Bob sold 23,000 shares at an average price of $36.23 for roughly $833,290, a transaction that reduced his holding by 77.61%; insiders now own about 0.73% of the stock.
• APA recently beat quarterly estimates (EPS $0.91 vs. $0.62) and declared a quarterly dividend of $0.25 (2.5% yield); the stock has a market cap of ~$14.18 billion, an average analyst rating of Hold and a consensus price target of $39.50.

Mitsubishi UFJ Trust & Banking Corp reduced its stake in APA Corporation (NASDAQ:APA - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 506,392 shares of the company's stock after selling 154,338 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.14% of APA worth $12,386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators grew its stake in shares of APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company's stock valued at $29,000 after acquiring an additional 891 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of APA in the third quarter valued at about $34,000. Spire Wealth Management grew its stake in shares of APA by 179.6% in the third quarter. Spire Wealth Management now owns 1,521 shares of the company's stock valued at $37,000 after acquiring an additional 977 shares in the last quarter. Camelot Portfolios LLC acquired a new position in shares of APA in the fourth quarter valued at about $37,000. Finally, Community Bank N.A. acquired a new position in shares of APA in the third quarter valued at about $43,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Capital One Financial decreased their price target on shares of APA from $51.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, April 17th. Susquehanna upped their price target on shares of APA from $37.00 to $47.00 and gave the company a "positive" rating in a research note on Tuesday, April 21st. Raymond James Financial upped their price target on shares of APA from $31.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. The Goldman Sachs Group upped their price target on shares of APA from $30.00 to $31.00 and gave the company a "sell" rating in a research note on Tuesday, April 21st. Finally, Stephens upped their price objective on shares of APA from $24.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $39.50.

Insider Activity at APA

In other news, Director Matthew Regis Bob sold 23,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total transaction 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. This trade represents a 77.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by company insiders.

APA Stock Down 1.5%

APA stock opened at $40.13 on Friday. The stock has a market capitalization of $14.18 billion, a P/E ratio of 10.06 and a beta of 0.49. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. APA Corporation has a 12 month low of $15.20 and a 12 month high of $45.66. The firm has a 50-day moving average price of $36.77 and a 200-day moving average price of $29.07.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.29. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a net margin of 15.55% and a return on equity of 19.89%. The firm's quarterly revenue was down 26.6% on a year-over-year basis. During the same quarter last year, the business earned $0.79 EPS. As a group, equities research analysts anticipate that APA Corporation will post 4.83 EPS for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. APA's dividend payout ratio (DPR) is 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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