APA Corporation $APA Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its stake in APA Corporation (NASDAQ:APA) by 41.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,410 shares of the company’s stock after selling 91,467 shares during the period. Synovus Financial Corp’s holdings in APA were worth $3,167,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of APA by 869.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock valued at $4,872,000 after purchasing an additional 174,369 shares during the last quarter. Prudential Financial Inc. increased its position in APA by 38.8% during the second quarter. Prudential Financial Inc. now owns 284,275 shares of the company’s stock worth $5,199,000 after buying an additional 79,451 shares during the period. Jackson Creek Investment Advisors LLC purchased a new stake in APA in the third quarter valued at approximately $2,337,000. AE Wealth Management LLC boosted its holdings in shares of APA by 2,049.4% in the third quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock valued at $9,797,000 after acquiring an additional 384,738 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of APA by 22.0% during the second quarter. Schroder Investment Management Group now owns 914,667 shares of the company’s stock worth $16,729,000 after acquiring an additional 165,006 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Price Performance

Shares of NASDAQ:APA opened at $29.06 on Friday. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 6.99, a price-to-earnings-growth ratio of 13.29 and a beta of 0.74. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.78. The business’s 50 day simple moving average is $25.82 and its 200-day simple moving average is $24.19. APA Corporation has a 12 month low of $13.58 and a 12 month high of $30.08.

APA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Wednesday, April 22nd will be given a $0.25 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. APA’s dividend payout ratio (DPR) is currently 24.04%.

Analysts Set New Price Targets

APA has been the subject of several research reports. Susquehanna upped their price target on shares of APA from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of APA in a research note on Monday, December 29th. William Blair began coverage on APA in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 price target on the stock. TD Cowen upgraded APA to a “hold” rating in a research note on Monday, February 9th. Finally, Barclays set a $24.00 price target on APA in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, APA presently has a consensus rating of “Hold” and a consensus price target of $26.39.

About APA

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.