BI Asset Management Fondsmaeglerselskab A S Has $16.22 Million Stock Position in APA Corporation $APA

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of APA Corporation (NASDAQ:APA) by 9.6% during the fourth quarter, Holdings Channel reports. The firm owned 663,079 shares of the company’s stock after selling 70,418 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in APA were worth $16,219,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new stake in APA during the third quarter valued at approximately $34,000. Camelot Portfolios LLC bought a new position in shares of APA in the fourth quarter valued at approximately $37,000. Community Bank N.A. bought a new position in shares of APA in the third quarter valued at approximately $43,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of APA in the fourth quarter valued at approximately $47,000. Finally, Virtus Advisers LLC bought a new position in shares of APA in the third quarter valued at approximately $57,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Price Performance

Shares of APA stock opened at $36.57 on Friday. APA Corporation has a 12-month low of $17.74 and a 12-month high of $45.66. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 8.52 and a beta of 0.33. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $38.89 and a 200-day moving average of $31.58.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.27. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS. On average, equities research analysts forecast that APA Corporation will post 5.18 earnings per share for the current year.

APA Announces Dividend

The business also recently announced 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 of this dividend is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. APA’s dividend payout ratio is presently 23.31%.

Analyst Ratings Changes

APA has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their target price on shares of APA from $29.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Barclays lifted their target price on shares of APA from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Wells Fargo & Company boosted their price objective on shares of APA from $21.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Piper Sandler boosted their price objective on shares of APA from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, Sanford C. Bernstein boosted their price objective on shares of APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 20th. Eight investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.96.

Insiders Place Their Bets

In other APA news, Director Matthew Regis Bob sold 23,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total transaction of $833,290.00. Following the sale, the director directly owned 6,634 shares of the company’s stock, valued at $240,349.82. The trade was a 77.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president directly owned 66,810 shares in the company, valued at $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.73% of the stock is currently owned by corporate insiders.

APA 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.