Turtle Creek Wealth Advisors LLC Sells 43,412 Shares of APA Corporation $APA

Turtle Creek Wealth Advisors LLC lowered its position in APA Corporation (NASDAQ:APA) by 89.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,064 shares of the company’s stock after selling 43,412 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in APA were worth $215,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in APA. Summit Securities Group LLC increased 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 worth $32,000 after acquiring an additional 710 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of APA during the 4th quarter valued at about $37,000. Community Bank N.A. bought a new stake in shares of APA during the 3rd quarter valued at about $43,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of APA during the fourth quarter worth about $47,000. Finally, Virtus Advisers LLC purchased a new position in shares of APA during the third quarter worth about $57,000. Institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of NASDAQ APA opened at $32.36 on Monday. The stock’s 50-day moving average is $36.61 and its 200 day moving average is $32.89. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 7.54 and a beta of 0.35. APA Corporation has a 1-year low of $17.86 and a 1-year high of $45.66. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. APA’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that APA Corporation will post 5.35 EPS for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders 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 dividend yield of 3.1%. APA’s dividend payout ratio is 23.31%.

Insider Activity

In related news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the transaction, the vice president owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on APA shares. Weiss Ratings cut shares of APA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Morgan Stanley dropped their target price on shares of APA from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, June 26th. Citigroup boosted their price target on shares of APA from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Raymond James Financial raised their price objective on shares of APA from $45.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group dropped their price objective on shares of APA from $34.00 to $32.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.88.

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.