Allspring Global Investments Holdings LLC Sells 21,335 Shares of APA Corporation $APA

Allspring Global Investments Holdings LLC reduced its stake in APA Corporation (NASDAQ:APA) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,860 shares of the company’s stock after selling 21,335 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of APA worth $11,779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC acquired a new position in shares of APA during the first quarter worth about $28,000. Global Assets Advisory LLC bought a new stake in APA in the 1st quarter valued at approximately $44,000. Summit Securities Group LLC lifted its stake in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares in the last quarter. Camelot Portfolios LLC acquired a new position in APA during the 4th quarter worth approximately $37,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in APA during the 4th quarter worth approximately $47,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APA has been the subject of a number of analyst reports. Stephens raised their target price on shares of APA from $43.00 to $47.00 in a research report on Wednesday, June 10th. Evercore boosted their price target on shares of APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 24th. Roth Capital upgraded shares of APA from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $38.00 in a research note on Monday, June 22nd. Susquehanna decreased their price objective on APA from $47.00 to $45.00 and set a “positive” rating for the company in a report on Tuesday. Finally, Weiss Ratings downgraded APA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Eight analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, APA has an average rating of “Hold” and an average target price of $40.35.

APA Stock Performance

NASDAQ APA opened at $35.77 on Wednesday. The firm has a market capitalization of $12.64 billion, a P/E ratio of 8.34 and a beta of 0.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average price is $35.65 and its two-hundred day moving average price is $33.74. APA Corporation has a 1 year low of $17.86 and a 1 year high of $45.66.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 EPS. As a group, research analysts anticipate that APA Corporation will post 5 EPS for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 2.8%. APA’s payout ratio is 23.31%.

Insider Buying and Selling

In other APA news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the transaction, the vice president directly owned 66,810 shares of the company’s stock, valued at $2,675,072.40. This represents a 12.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.