APA Corporation $APA Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in shares of APA Corporation (NASDAQ:APA) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 410,408 shares of the company’s stock after selling 39,589 shares during the period. Wedge Capital Management L L P NC’s holdings in APA were worth $13,367,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd boosted its holdings in APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after buying an additional 330 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in APA by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after buying an additional 375 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock valued at $689,000 after acquiring an additional 396 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock valued at $358,000 after acquiring an additional 461 shares during the last quarter. Finally, Hollencrest Capital Management lifted its position in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Insider Transactions at APA

In related news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the sale, 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 is accessible through this link. Insiders own 0.73% of the company’s stock.

APA Stock Down 1.6%

Shares of NASDAQ:APA opened at $39.97 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $35.28 and a two-hundred day moving average of $35.06. The stock has a market cap of $14.00 billion, a P/E ratio of 8.45 and a beta of 0.35. APA Corporation has a 52-week low of $19.96 and a 52-week high of $45.66.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the business earned $0.87 earnings per share. On average, research analysts expect that APA Corporation will post 5.16 earnings per share for the current year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. APA’s dividend payout ratio is currently 21.14%.

Analyst Ratings Changes

APA has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, June 26th. Mizuho upgraded shares of APA to a “strong sell” rating in a research report on Friday, July 31st. The Goldman Sachs Group lowered their price target on shares of APA from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Wall Street Zen cut shares of APA from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, Raymond James Financial cut their price objective on shares of APA from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.30.

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.