Principal Financial Group Inc. Sells 32,882 Shares of APA Corporation (NASDAQ:APA)

Principal Financial Group Inc. lessened its position in shares of APA Corporation (NASDAQ:APA) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,300 shares of the company’s stock after selling 32,882 shares during the period. Principal Financial Group Inc. owned about 0.12% of APA worth $8,751,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of APA by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 9,507,956 shares of the company’s stock valued at $219,016,000 after acquiring an additional 200,770 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of APA by 3,303.0% in the 1st quarter. GAMMA Investing LLC now owns 268,194 shares of the company’s stock valued at $5,637,000 after acquiring an additional 260,313 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of APA by 14.5% in the 1st quarter. Fifth Third Bancorp now owns 26,137 shares of the company’s stock valued at $549,000 after acquiring an additional 3,306 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in APA by 11.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 207,210 shares of the company’s stock valued at $4,378,000 after purchasing an additional 21,630 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in APA during the fourth quarter worth about $1,442,000. Institutional investors own 83.01% of the company’s stock.

APA Stock Down 3.2%

APA stock opened at $19.47 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $7.04 billion, a PE ratio of 7.00, a PEG ratio of 6.49 and a beta of 1.25. APA Corporation has a twelve month low of $13.58 and a twelve month high of $33.41. The stock has a 50-day simple moving average of $18.36 and a two-hundred day simple moving average of $19.71.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.23. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.17 billion. APA had a return on equity of 23.22% and a net margin of 9.75%. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. On average, equities analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.14%. APA’s dividend payout ratio is presently 35.97%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Raymond James Financial reissued an “outperform” rating and set a $25.00 target price (up from $23.00) on shares of APA in a report on Friday, May 30th. Royal Bank Of Canada set a $22.00 price target on APA and gave the company a “sector perform” rating in a report on Monday. Citigroup raised their price target on APA from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Barclays set a $21.00 price target on APA and gave the company an “equal weight” rating in a report on Monday, July 7th. Finally, JPMorgan Chase & Co. raised their price target on APA from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.72.

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.