APA Corporation (NASDAQ:APA) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in APA Corporation by 38.4% during the first quarter, owning 65,137 shares valued at approximately $1.37 million after selling 40,564 shares.
• The company reported $1.06 earnings per share (EPS) for the last quarter, exceeding analysts' expectations by $0.23, and had a revenue of $2.61 billion, which was significantly higher than the $2.17 billion estimate.
• APA Corporation announced a quarterly dividend of $0.25, equating to an annualized dividend yield of 5.4%, with a payout ratio of approximately 35.97%.

TD Asset Management Inc decreased its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 38.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,137 shares of the company's stock after selling 40,564 shares during the quarter. TD Asset Management Inc's holdings in APA were worth $1,369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Golden State Wealth Management LLC increased its position in APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after acquiring an additional 1,382 shares during the last quarter. Rakuten Securities Inc. raised its position in APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after purchasing an additional 1,288 shares during the period. Siemens Fonds Invest GmbH bought a new stake in APA in the fourth quarter worth about $42,000. LRI Investments LLC purchased a new position in shares of APA during the fourth quarter valued at approximately $44,000. Finally, Allworth Financial LP grew its stake in shares of APA by 122.5% during the first quarter. Allworth Financial LP now owns 3,084 shares of the company's stock valued at $65,000 after buying an additional 1,698 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APA has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, May 19th. JPMorgan Chase & Co. boosted their price target on shares of APA from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Stephens initiated coverage on shares of APA in a research note on Tuesday. They set an "equal weight" rating and a $24.00 price objective on the stock. Susquehanna lowered their target price on APA from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley lifted their price target on APA from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Friday, May 23rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $23.53.

APA Stock Down 2.9%

Shares of NASDAQ APA traded down $0.53 during midday trading on Wednesday, hitting $18.06. The company's stock had a trading volume of 8,681,514 shares, compared to its average volume of 6,094,097. APA Corporation has a 1 year low of $13.58 and a 1 year high of $29.88. The business's fifty day simple moving average is $19.04 and its two-hundred day simple moving average is $19.17. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 6.50, a price-to-earnings-growth ratio of 6.07 and a beta of 1.23. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.89.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.29. APA had a return on equity of 23.22% and a net margin of 9.75%. The company's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 EPS. On average, equities analysts predict that APA Corporation will post 4.03 EPS for the current year.

APA Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA's dividend payout ratio is currently 35.97%.

APA Profile

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.