Vestcor Inc Sells 17,262 Shares of APA Corporation $APA

Vestcor Inc lowered its position in shares of APA Corporation (NASDAQ:APA) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,997 shares of the company’s stock after selling 17,262 shares during the quarter. Vestcor Inc’s holdings in APA were worth $1,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Atlantic Union Bankshares Corp bought a new stake in shares of APA in the 3rd quarter valued at $34,000. Camelot Portfolios LLC acquired a new stake in shares of APA in the fourth quarter valued at approximately $37,000. Community Bank N.A. bought a new stake in APA during the 3rd quarter worth about $43,000. Cary Street Partners Investment Advisory LLC bought a new stake in APA during the fourth quarter worth about $47,000. Finally, Virtus Advisers LLC acquired a new stake in shares of APA in the 3rd quarter valued at approximately $57,000. 83.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on APA. Jefferies Financial Group boosted their price target on APA from $26.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Stephens boosted their price objective on shares of APA from $24.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 31st. Zacks Research cut shares of APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley increased their price target on APA from $43.00 to $44.00 and gave the company an “underweight” rating in a research note on Thursday, May 21st. Finally, The Goldman Sachs Group lifted their target price on shares of APA from $31.00 to $34.00 and gave the stock a “sell” rating in a research report on Tuesday, May 19th. Eight investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, APA has a consensus rating of “Hold” and a consensus target price of $40.96.

Insider Activity

In related news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the sale, the director owned 6,634 shares in the company, valued at approximately $240,349.82. This represents a 77.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.73% of the stock is owned by corporate insiders.

APA Price Performance

Shares of NASDAQ APA opened at $36.57 on Monday. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 8.52 and a beta of 0.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. APA Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $45.66. The firm’s 50-day simple moving average is $38.89 and its 200 day simple moving average is $31.63.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue was down 11.7% compared to the same quarter last year. As a group, research analysts anticipate that APA Corporation will post 5.18 earnings per share for the current fiscal year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Wednesday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. APA’s dividend payout ratio is presently 23.31%.

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.