APA Corporation (NASDAQ:APA) Shares Sold by Segment Wealth Management LLC

Segment Wealth Management LLC lowered its position in APA Corporation (NASDAQ:APA) by 9.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 50,000 shares of the company’s stock after selling 4,938 shares during the quarter. Segment Wealth Management LLC’s holdings in APA were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in APA. State of Alaska Department of Revenue lifted its holdings in shares of APA by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 43,353 shares of the company’s stock valued at $911,000 after buying an additional 1,175 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of APA by 499.2% in the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock valued at $32,000 after purchasing an additional 1,288 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in APA during the 1st quarter worth about $238,000. Murphy Pohlad Asset Management LLC grew its position in APA by 1.7% during the first quarter. Murphy Pohlad Asset Management LLC now owns 100,148 shares of the company’s stock valued at $2,105,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Albert D Mason Inc. grew its holdings in shares of APA by 5.7% during the 1st quarter. Albert D Mason Inc. now owns 12,261 shares of the company’s stock valued at $258,000 after acquiring an additional 657 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

APA has been the topic of several recent research reports. Argus raised shares of APA to a “hold” rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $23.00 price target on shares of APA in a research report on Wednesday, March 19th. Raymond James Financial reaffirmed an “outperform” rating and set a $25.00 price objective (up previously from $23.00) on shares of APA in a research report on Friday, May 30th. Royal Bank Of Canada reduced their target price on APA from $27.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company decreased their price objective on APA from $23.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, June 16th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given 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 1.7%

APA stock opened at $19.97 on Friday. The business has a fifty day moving average of $17.37 and a 200-day moving average of $20.01. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.81. The company has a market cap of $7.22 billion, a P/E ratio of 7.18, a PEG ratio of 6.42 and a beta of 1.25. APA Corporation has a twelve month low of $13.58 and a twelve month high of $33.41.

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

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA’s dividend payout ratio (DPR) 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.