Invesco Ltd. Decreases Holdings in APA Corporation $APA

Invesco Ltd. decreased its holdings in APA Corporation (NASDAQ:APA) by 11.7% in the second quarter, Holdings Channel reports. The fund owned 11,626,054 shares of the company’s stock after selling 1,538,446 shares during the quarter. Invesco Ltd.’s holdings in APA were worth $212,641,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in APA. TD Private Client Wealth LLC raised its position in APA by 144.9% during the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock valued at $34,000 after purchasing an additional 1,104 shares during the period. CVA Family Office LLC increased its position in shares of APA by 6,096.7% during the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after purchasing an additional 1,829 shares during the last quarter. MAI Capital Management raised its holdings in APA by 76.5% during the 2nd quarter. MAI Capital Management now owns 2,134 shares of the company’s stock valued at $39,000 after buying an additional 925 shares during the period. Whittier Trust Co. boosted its stake in APA by 214.3% during the second quarter. Whittier Trust Co. now owns 2,200 shares of the company’s stock worth $40,000 after buying an additional 1,500 shares during the period. Finally, Hantz Financial Services Inc. increased its position in APA by 1,731.8% during the second quarter. Hantz Financial Services Inc. now owns 2,363 shares of the company’s stock valued at $43,000 after acquiring an additional 2,234 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

APA has been the subject of several analyst reports. Johnson Rice raised shares of APA from a “hold” rating to an “accumulate” rating and raised their price objective for the stock from $35.00 to $40.00 in a research note on Thursday. Wolfe Research increased their price target on APA from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Roth Capital boosted their price objective on APA from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Wells Fargo & Company upped their price objective on APA from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, August 15th. Finally, Piper Sandler lifted their target price on APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Six investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.55.

APA Stock Up 1.5%

APA stock opened at $27.10 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The firm has a market cap of $9.61 billion, a P/E ratio of 6.51, a P/E/G ratio of 7.26 and a beta of 0.75. The business has a fifty day moving average of $23.96 and a two-hundred day moving average of $21.57. APA Corporation has a twelve month low of $13.58 and a twelve month high of $27.72.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.74 by $0.19. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. APA had a net margin of 15.49% and a return on equity of 19.86%. The company’s quarterly revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 earnings per share. On average, analysts forecast that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. APA’s dividend payout ratio is 24.04%.

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.