Daiwa Securities Group Inc. Cuts Stake in APA Co. (NASDAQ:APA)

Daiwa Securities Group Inc. lessened its holdings in APA Co. (NASDAQ:APAFree Report) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,911 shares of the company’s stock after selling 3,335 shares during the quarter. Daiwa Securities Group Inc.’s holdings in APA were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in APA. DNB Asset Management AS increased its holdings in shares of APA by 0.6% in the fourth quarter. DNB Asset Management AS now owns 49,846 shares of the company’s stock worth $1,788,000 after buying an additional 308 shares during the period. HB Wealth Management LLC grew its position in APA by 5.0% during the 4th quarter. HB Wealth Management LLC now owns 6,528 shares of the company’s stock worth $234,000 after acquiring an additional 309 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in APA by 1.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company’s stock worth $898,000 after purchasing an additional 358 shares during the period. Quent Capital LLC increased its stake in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after purchasing an additional 375 shares during the period. Finally, SVB Wealth LLC lifted its position in APA by 7.0% in the fourth quarter. SVB Wealth LLC now owns 5,868 shares of the company’s stock valued at $211,000 after purchasing an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on APA shares. Bank of America restated an “underperform” rating and issued a $31.00 target price on shares of APA in a report on Friday, June 14th. Citigroup decreased their price objective on shares of APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Evercore ISI downgraded shares of APA from an “outperform” rating to an “inline” rating and lowered their price objective for the company from $52.00 to $39.00 in a research note on Friday, June 14th. Barclays reduced their price target on APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Roth Mkm increased their price objective on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.33.

Read Our Latest Stock Report on APA

APA Stock Performance

Shares of APA opened at $28.77 on Thursday. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 3.22, a P/E/G ratio of 0.34 and a beta of 3.26. The business’s fifty day simple moving average is $29.42 and its two-hundred day simple moving average is $31.40. APA Co. has a 12 month low of $27.17 and a 12 month high of $46.15. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42.

APA (NASDAQ:APAGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the business posted $1.19 earnings per share. APA’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that APA Co. will post 4.5 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.48%. APA’s payout ratio is currently 11.19%.

APA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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