United Capital Management of KS Inc. Sells 30,000 Shares of APA Corporation $APA

United Capital Management of KS Inc. trimmed its stake in shares of APA Corporation (NASDAQ:APA) by 60.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 20,000 shares of the company’s stock after selling 30,000 shares during the quarter. United Capital Management of KS Inc.’s holdings in APA were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of APA. Camelot Portfolios LLC bought a new stake in shares of APA during the 4th quarter valued at $37,000. Community Bank N.A. bought a new stake in shares of APA during the 3rd quarter valued at $43,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of APA during the 4th quarter valued at $47,000. Virtus Advisers LLC bought a new stake in shares of APA during the 3rd quarter valued at $57,000. Finally, Elyxium Wealth LLC bought a new stake in shares of APA during the 4th quarter valued at $64,000. 83.01% of the stock is currently owned by institutional investors.

APA Stock Performance

Shares of APA stock opened at $37.02 on Friday. APA Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $45.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $13.08 billion, a P/E ratio of 8.63 and a beta of 0.33. The company’s 50 day moving average price is $38.32 and its two-hundred day moving average price is $32.04.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $1.06 earnings per share. The company’s quarterly revenue was down 11.7% on a year-over-year basis. On average, equities analysts forecast that APA Corporation will post 5.59 earnings per share for the current fiscal year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be given a $0.25 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 2.7%. APA’s dividend payout ratio (DPR) is currently 23.31%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Sanford C. Bernstein upped their target price on APA from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, May 20th. Weiss Ratings upgraded APA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Stephens upped their price objective on APA from $43.00 to $47.00 in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on APA from $38.00 to $41.00 in a research report on Friday, May 8th. Finally, Wolfe Research upped their price objective on APA from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $41.04.

Insider Activity

In other APA news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the transaction, the director owned 6,634 shares of the company’s stock, valued at $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.73% of the stock is currently owned by company insiders.

APA Profile

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.