abrdn plc cut its holdings in shares of APA Co. (NASDAQ:APA – Get Rating) by 50.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 59,769 shares of the company’s stock after selling 61,558 shares during the period. abrdn plc’s holdings in APA were worth $2,539,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Acima Private Wealth LLC lifted its position in APA by 85.6% during the 1st quarter. Acima Private Wealth LLC now owns 11,248 shares of the company’s stock worth $465,000 after buying an additional 5,189 shares in the last quarter. National Asset Management Inc. bought a new stake in APA during the 1st quarter worth about $209,000. Hoertkorn Richard Charles bought a new stake in APA during the 1st quarter worth about $8,070,000. HNP Capital LLC bought a new stake in APA during the 1st quarter worth about $306,000. Finally, Supplemental Annuity Collective Trust of NJ bought a new stake in APA during the 1st quarter worth about $289,000. 84.08% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on APA. Susquehanna Bancshares boosted their price objective on shares of APA from $42.00 to $52.00 in a research note on Monday, April 25th. Truist Financial boosted their price objective on shares of APA from $55.00 to $65.00 in a research note on Thursday, April 21st. Bank of America lowered their price objective on shares of APA from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Mizuho lowered their price objective on shares of APA from $60.00 to $56.00 in a research note on Tuesday, July 19th. Finally, Stifel Nicolaus boosted their price objective on shares of APA from $51.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, APA has an average rating of “Moderate Buy” and an average target price of $50.63.
APA Stock Performance
APA (NASDAQ:APA – Get Rating) last announced its earnings results on Wednesday, May 4th. The company reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.16). APA had a return on equity of 11,632.79% and a net margin of 30.21%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The business’s revenue for the quarter was up 42.7% on a year-over-year basis. Equities research analysts predict that APA Co. will post 9.96 earnings per share for the current year.
APA Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, July 22nd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, July 21st. APA’s dividend payout ratio (DPR) is presently 7.14%.
Insider Transactions at APA
In other news, insider P Anthony Lannie sold 86,750 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $41.26, for a total transaction of $3,579,305.00. Following the completion of the sale, the insider now owns 58,844 shares of the company’s stock, valued at approximately $2,427,903.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.
APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.
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