Baird Financial Group Inc. Sells 7,556 Shares of APA Corporation $APA

Baird Financial Group Inc. reduced its holdings in shares of APA Corporation (NASDAQ:APA) by 23.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,551 shares of the company’s stock after selling 7,556 shares during the period. Baird Financial Group Inc.’s holdings in APA were worth $516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in APA. Golden State Wealth Management LLC grew its holdings in shares of APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock worth $30,000 after purchasing an additional 1,382 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of APA by 499.2% in the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock worth $32,000 after purchasing an additional 1,288 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of APA in the fourth quarter worth approximately $42,000. LRI Investments LLC bought a new position in shares of APA in the fourth quarter worth approximately $44,000. Finally, SVB Wealth LLC bought a new position in shares of APA in the first quarter worth approximately $55,000. Institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of APA stock opened at $23.29 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $8.33 billion, a P/E ratio of 7.79, a P/E/G ratio of 6.43 and a beta of 1.29. The business has a fifty day simple moving average of $20.42 and a two-hundred day simple moving average of $18.94. APA Corporation has a 12 month low of $13.58 and a 12 month high of $27.48.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.45 by $0.42. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.The company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. On average, equities analysts forecast that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s payout ratio is currently 33.44%.

Analyst Ratings Changes

APA has been the topic of several recent analyst reports. Barclays raised their target price on shares of APA from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Morgan Stanley raised their target price on shares of APA from $22.00 to $23.00 and gave the stock an “underweight” rating in a report on Monday, August 18th. Cfra Research upgraded shares of APA to a “hold” rating in a report on Friday, August 8th. Citigroup lifted their price target on shares of APA from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Finally, Cowen reiterated a “hold” rating on shares of APA in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.83.

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.