APA Corporation $APA Holdings Cut by WBI Investments LLC

WBI Investments LLC cut its stake in shares of APA Corporation (NASDAQ:APA) by 74.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,104 shares of the company’s stock after selling 138,575 shares during the quarter. WBI Investments LLC’s holdings in APA were worth $1,144,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Deseret Mutual Benefit Administrators lifted its holdings in shares of APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in APA during the 3rd quarter worth $34,000. Spire Wealth Management grew its stake in APA by 179.6% during the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after buying an additional 977 shares during the last quarter. MAI Capital Management increased its position in APA by 76.5% in the second quarter. MAI Capital Management now owns 2,134 shares of the company’s stock worth $39,000 after buying an additional 925 shares during the period. Finally, Community Bank N.A. acquired a new stake in APA in the third quarter worth $43,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Up 3.9%

APA opened at $35.87 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $12.67 billion, a PE ratio of 8.99, a P/E/G ratio of 17.04 and a beta of 0.67. The stock’s fifty day moving average is $28.32 and its 200-day moving average is $25.56. APA Corporation has a one year low of $13.58 and a one year high of $36.00.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.29. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.The company’s quarterly revenue was down 26.6% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. On average, equities analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. APA’s dividend payout ratio (DPR) is 25.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on APA shares. Sanford C. Bernstein reduced their price target on shares of APA from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, January 5th. Susquehanna increased their price objective on shares of APA from $32.00 to $37.00 and gave the stock a “positive” rating in a report on Tuesday, March 3rd. Morgan Stanley cut their price objective on shares of APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Friday, January 23rd. UBS Group boosted their target price on shares of APA from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada upped their target price on shares of APA from $26.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.16.

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.