M&T Bank Corp Sells 6,924 Shares of APA Corporation (NASDAQ:APA)

M&T Bank Corp lowered its position in shares of APA Corporation (NASDAQ:APA) by 23.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,070 shares of the company’s stock after selling 6,924 shares during the quarter. M&T Bank Corp’s holdings in APA were worth $485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in APA during the fourth quarter worth about $1,442,000. Raymond James Financial Inc. bought a new stake in shares of APA in the 4th quarter valued at $14,524,000. Sequoia Financial Advisors LLC increased its position in shares of APA by 27.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 20,418 shares of the company’s stock valued at $471,000 after buying an additional 4,399 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of APA in the 4th quarter valued at $996,000. Finally, Madison Investment Advisors LLC bought a new stake in shares of APA in the 4th quarter valued at $8,282,000. Institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

APA has been the topic of several research reports. Mizuho cut their price objective on shares of APA from $20.00 to $19.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 13th. Argus upgraded shares of APA to a “hold” rating in a report on Friday, May 16th. Susquehanna decreased their target price on shares of APA from $31.00 to $30.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Royal Bank Of Canada set a $22.00 price target on shares of APA and gave the stock a “sector perform” rating in a research report on Monday. Finally, Wells Fargo & Company dropped their price target on shares of APA from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, June 16th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, APA currently has a consensus rating of “Hold” and a consensus price target of $24.72.

APA Stock Down 2.7%

Shares of NASDAQ APA opened at $18.14 on Thursday. The firm has a market cap of $6.56 billion, a PE ratio of 6.53, a P/E/G ratio of 6.20 and a beta of 1.25. The company’s fifty day simple moving average is $18.55 and its 200 day simple moving average is $19.67. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.81. APA Corporation has a 12-month low of $13.58 and a 12-month high of $33.41.

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

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be paid 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 yield of 5.51%. APA’s dividend payout ratio (DPR) is presently 35.97%.

About APA

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.