Allspring Global Investments Holdings LLC Has $669,000 Stake in APA Co. (NASDAQ:APA)

Allspring Global Investments Holdings LLC lowered its stake in APA Co. (NASDAQ:APA) by 40.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,636 shares of the company’s stock after selling 12,457 shares during the period. Allspring Global Investments Holdings LLC’s holdings in APA were worth $669,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in APA by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,719,129 shares of the company’s stock valued at $1,714,656,000 after purchasing an additional 2,003,862 shares during the period. Smead Capital Management Inc. lifted its holdings in APA by 3.8% in the third quarter. Smead Capital Management Inc. now owns 4,609,497 shares of the company’s stock valued at $189,450,000 after buying an additional 167,934 shares during the period. Clearbridge Investments LLC boosted its stake in APA by 1.9% in the third quarter. Clearbridge Investments LLC now owns 2,815,109 shares of the company’s stock valued at $115,701,000 after acquiring an additional 53,241 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in APA by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock worth $104,037,000 after acquiring an additional 24,182 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of APA by 130.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company’s stock valued at $63,037,000 after acquiring an additional 867,257 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Performance

APA opened at $32.05 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 3.45 and a beta of 3.27. The business’s 50-day moving average price is $32.51 and its two-hundred day moving average price is $34.52. APA Co. has a 1 year low of $29.47 and a 1 year high of $46.15.

APA (NASDAQ:APA) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the business posted $1.48 EPS. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year. Equities analysts expect that APA Co. will post 4.96 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, April 19th. APA’s dividend payout ratio (DPR) is currently 10.78%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price target on APA from $35.00 to $31.00 and set a “sell” rating on the stock in a research report on Tuesday, March 26th. Barclays initiated coverage on APA in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $40.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler boosted their price objective on shares of APA from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company started coverage on shares of APA in a report on Wednesday. They issued an “overweight” rating and a $55.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, APA presently has a consensus rating of “Hold” and an average target price of $42.25.

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.