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

Allspring Global Investments Holdings LLC reduced its holdings in shares of APA Corporation (NASDAQ:APA) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 284,860 shares of the company’s stock after selling 21,335 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in APA were worth $11,779,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of APA by 71.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 185,818 shares of the company’s stock worth $4,437,000 after acquiring an additional 77,125 shares in the last quarter. Friedenthal Financial bought a new stake in shares of APA during the 4th quarter valued at about $938,000. Thrivent Financial for Lutherans boosted its position in shares of APA by 85.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock valued at $1,976,000 after purchasing an additional 37,180 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in APA by 59.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,895 shares of the company’s stock worth $2,761,000 after purchasing an additional 42,068 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in APA in the fourth quarter worth approximately $5,159,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Up 2.7%

Shares of NASDAQ APA opened at $35.77 on Wednesday. The stock 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 50-day moving average price of $35.65 and a 200-day moving average price of $33.74. APA Corporation has a 1 year low of $17.86 and a 1 year high of $45.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion during 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 company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 EPS. On average, equities research analysts forecast that APA Corporation will post 5 EPS for the current fiscal 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio (DPR) is presently 23.31%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets cut their price target on APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a report on Wednesday, May 13th. Roth Capital upgraded shares of APA from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $38.00 in a research report on Monday, June 22nd. Zacks Research lowered shares of APA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Truist Financial reduced their price target on shares of APA from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, July 10th. Finally, UBS Group decreased their price target on shares of APA from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.35.

Insider Buying and Selling at APA

In related news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction dated 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 directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by 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.