Truist Financial Corp Decreases Stock Position in APA Corporation $APA

Truist Financial Corp lowered its position in APA Corporation (NASDAQ:APA) by 19.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,444 shares of the company’s stock after selling 3,252 shares during the quarter. Truist Financial Corp’s holdings in APA were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in APA. Dimensional Fund Advisors LP raised its position in APA by 46.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock worth $190,876,000 after purchasing an additional 2,894,543 shares during the period. Nuveen LLC purchased a new stake in shares of APA in the first quarter worth approximately $22,533,000. Charles Schwab Investment Management Inc. raised its holdings in shares of APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock worth $292,871,000 after buying an additional 1,046,893 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in APA by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock worth $765,964,000 after purchasing an additional 1,029,961 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in APA in the first quarter worth $17,129,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on APA. Wells Fargo & Company raised their target price on shares of APA from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Scotiabank raised their price objective on APA from $22.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. BMO Capital Markets raised their price target on APA from $28.00 to $30.00 and gave the company a “market perform” rating in a research note on Monday, October 13th. Stephens began coverage on APA in a research note on Tuesday, August 5th. They set an “equal weight” rating and a $24.00 price target on the stock. Finally, Morgan Stanley cut their target price on shares of APA from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.06.

APA Stock Down 2.1%

Shares of APA stock opened at $22.52 on Friday. APA Corporation has a 1-year low of $13.58 and a 1-year high of $25.83. The stock’s fifty day moving average price is $22.89 and its 200 day moving average price is $19.59. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 7.53, a price-to-earnings-growth ratio of 6.63 and a beta of 1.16.

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

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s payout ratio is currently 33.44%.

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.