Citigroup Inc. Cuts Holdings in APA Corporation (NASDAQ:APA)

Citigroup Inc. reduced its position in APA Corporation (NASDAQ:APA) by 17.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 424,655 shares of the company’s stock after selling 90,198 shares during the quarter. Citigroup Inc.’s holdings in APA were worth $8,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in APA. Golden State Wealth Management LLC increased its holdings in APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock valued at $30,000 after purchasing an additional 1,382 shares in the last quarter. Rakuten Securities Inc. increased its holdings in APA by 499.2% in the 1st 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. Siemens Fonds Invest GmbH acquired a new stake in APA in the 4th quarter valued at $42,000. LRI Investments LLC acquired a new stake in APA in the 4th quarter valued at $44,000. Finally, Allworth Financial LP increased its holdings in APA by 122.5% in the 1st quarter. Allworth Financial LP now owns 3,084 shares of the company’s stock valued at $65,000 after purchasing an additional 1,698 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Down 0.0%

NASDAQ:APA opened at $20.48 on Friday. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 6.22 and a beta of 1.23. APA Corporation has a one year low of $13.58 and a one year high of $29.88. The stock has a 50-day simple moving average of $19.40 and a 200 day simple moving average of $18.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.42. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. Sell-side analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Tuesday, July 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, July 22nd. APA’s payout ratio is presently 33.44%.

Analysts Set New Price Targets

APA has been the subject of several recent research reports. Stephens initiated coverage on APA in a report on Tuesday, August 5th. They issued an “equal weight” rating and a $24.00 price target for the company. UBS Group restated a “neutral” rating and set a $19.00 target price (up from $18.00) on shares of APA in a research note on Monday, July 14th. Cfra Research upgraded APA to a “hold” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. raised their target price on APA from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Finally, Piper Sandler raised their target price on APA from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.61.

APA 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.