Exchange Traded Concepts LLC Sells 1,271 Shares of APA Corporation (NASDAQ:APA)

Exchange Traded Concepts LLC trimmed its holdings in shares of APA Corporation (NASDAQ:APA) by 22.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,442 shares of the company’s stock after selling 1,271 shares during the quarter. Exchange Traded Concepts LLC’s holdings in APA were worth $93,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of APA. Brown Brothers Harriman & Co. increased its holdings in APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after buying an additional 1,077 shares during the period. Riverview Trust Co increased its holdings in APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after buying an additional 1,258 shares during the period. Runnymede Capital Advisors Inc. bought a new position in APA in the 4th quarter valued at about $35,000. Siemens Fonds Invest GmbH bought a new position in APA in the 4th quarter valued at about $42,000. Finally, LRI Investments LLC bought a new position in APA in the 4th quarter valued at about $44,000. 83.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APA has been the topic of several recent analyst reports. Susquehanna decreased their target price on shares of APA from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Raymond James Financial reissued an “outperform” rating and issued a $25.00 target price (up from $23.00) on shares of APA in a report on Friday, May 30th. Mizuho reduced their price target on shares of APA from $20.00 to $19.00 and set an “underperform” rating on the stock in a research note on Tuesday, May 13th. The Goldman Sachs Group restated a “sell” rating and issued a $23.00 price target on shares of APA in a research note on Wednesday, March 19th. Finally, Piper Sandler reduced their price target on shares of APA from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.72.

APA Trading Down 1.1%

APA opened at $18.18 on Wednesday. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $33.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 5.81 and a beta of 1.25. The company’s 50 day moving average price is $17.50 and its two-hundred day moving average price is $19.94.

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

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date is Tuesday, July 22nd. APA’s payout ratio is 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.