Bank of New York Mellon Corp Sells 112,334 Shares of APA Co. (NASDAQ:APA)

Bank of New York Mellon Corp trimmed its position in shares of APA Co. (NASDAQ:APA – Get Rating) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,864,925 shares of the company’s stock after selling 112,334 shares during the period. Bank of New York Mellon Corp owned about 1.20% of APA worth $132,142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of APA. Renaissance Technologies LLC raised its stake in shares of APA by 385.8% during the second quarter. Renaissance Technologies LLC now owns 2,954,445 shares of the company’s stock valued at $103,110,000 after acquiring an additional 2,346,254 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of APA by 191.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,248 shares of the company’s stock valued at $129,952,000 after buying an additional 2,064,022 shares during the period. Point72 Asset Management L.P. increased its position in shares of APA by 91.3% during the third quarter. Point72 Asset Management L.P. now owns 3,102,505 shares of the company’s stock valued at $106,075,000 after buying an additional 1,481,009 shares during the period. Deutsche Bank AG increased its position in shares of APA by 315.5% during the second quarter. Deutsche Bank AG now owns 1,771,760 shares of the company’s stock valued at $61,832,000 after buying an additional 1,345,301 shares during the period. Finally, Amundi increased its position in shares of APA by 324.3% during the second quarter. Amundi now owns 1,737,234 shares of the company’s stock valued at $54,860,000 after buying an additional 1,327,766 shares during the period. 80.79% of the stock is owned by institutional investors.

APA Stock Down 3.3 %

Shares of APA stock opened at $31.74 on Friday. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 2.94, a price-to-earnings-growth ratio of 0.20 and a beta of 3.52. The company’s 50 day moving average is $39.13 and its 200 day moving average is $43.49. APA Co. has a twelve month low of $30.15 and a twelve month high of $51.95. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 4.05.

APA (NASDAQ:APA – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.37 billion. APA had a net margin of 34.14% and a return on equity of 198.44%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Research analysts anticipate that APA Co. will post 6.35 EPS for the current year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 22nd. Shareholders of record on Friday, April 21st will be given a $0.25 dividend. The ex-dividend date is Thursday, April 20th. This represents a $1.00 annualized dividend and a yield of 3.15%. APA’s payout ratio is presently 9.26%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on APA shares. Mizuho reduced their price target on shares of APA from $49.00 to $45.00 in a research report on Friday, March 10th. Truist Financial cut their price objective on shares of APA from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, February 27th. Raymond James cut their price objective on shares of APA from $68.00 to $61.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 26th. Barclays cut their price objective on shares of APA from $55.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. Finally, TheStreet upgraded shares of APA from a “c” rating to a “b-” rating in a report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, APA presently has an average rating of “Moderate Buy” and a consensus target price of $51.29.

About APA

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APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the United States, Egypt and the United Kingdom, and exploration activities offshore in Suriname. The company was founded in 1954 and is headquartered in Houston, TX.