Mitsubishi UFJ Asset Management Co. Ltd. Sells 304,836 Shares of APA Corporation (NASDAQ:APA)

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in APA Corporation (NASDAQ:APA) by 45.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 368,142 shares of the company’s stock after selling 304,836 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in APA were worth $7,738,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock worth $292,871,000 after purchasing an additional 1,046,893 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in APA by 33.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company’s stock valued at $142,823,000 after buying an additional 1,540,055 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in APA by 29.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company’s stock valued at $122,328,000 after buying an additional 1,195,212 shares during the period. Northern Trust Corp lifted its holdings in APA by 7.2% in the fourth quarter. Northern Trust Corp now owns 4,025,421 shares of the company’s stock valued at $92,947,000 after buying an additional 269,865 shares during the period. Finally, First Trust Advisors LP lifted its holdings in APA by 32.2% in the fourth quarter. First Trust Advisors LP now owns 2,166,968 shares of the company’s stock valued at $50,035,000 after buying an additional 528,159 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Trading Down 0.4%

APA opened at $19.92 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $29.88. The firm has a market capitalization of $7.13 billion, a PE ratio of 6.66, a P/E/G ratio of 6.54 and a beta of 1.23. The company’s 50-day moving average is $19.21 and its 200 day moving average is $19.02.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The firm’s revenue was down 14.4% 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 fiscal year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, July 22nd. APA’s dividend payout ratio is presently 33.44%.

Analysts Set New Price Targets

APA has been the topic of several recent analyst reports. Piper Sandler boosted their target price on shares of APA from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Argus upgraded shares of APA to a “hold” rating in a report on Friday, May 16th. Morgan Stanley boosted their target price on shares of APA from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of APA from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Finally, Susquehanna dropped 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. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $23.59.

APA Company Profile

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.