iA Global Asset Management Inc. Sells 6,832 Shares of APA Co. (NASDAQ:APA)

iA Global Asset Management Inc. lessened its stake in shares of APA Co. (NASDAQ:APA) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,951 shares of the company’s stock after selling 6,832 shares during the quarter. iA Global Asset Management Inc.’s holdings in APA were worth $1,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of APA by 1.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,029 shares of the company’s stock valued at $898,000 after acquiring an additional 358 shares during the period. SVB Wealth LLC increased its holdings in APA by 7.0% during the 4th quarter. SVB Wealth LLC now owns 5,868 shares of the company’s stock valued at $211,000 after purchasing an additional 386 shares during the period. Stephens Inc. AR lifted its holdings in APA by 0.9% in the 4th quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock worth $1,775,000 after buying an additional 436 shares during the period. UMB Bank n.a. grew its position in shares of APA by 18.1% in the 1st quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock worth $98,000 after buying an additional 439 shares during the last quarter. Finally, Triton Wealth Management PLLC increased its stake in shares of APA by 1.6% during the first quarter. Triton Wealth Management PLLC now owns 28,943 shares of the company’s stock valued at $922,000 after buying an additional 449 shares during the period. Institutional investors own 83.01% of the company’s stock.

Analysts Set New Price Targets

APA has been the topic of several recent analyst reports. Susquehanna lifted their price target on shares of APA from $54.00 to $57.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 target price on shares of APA in a research note on Wednesday, July 10th. Bank of America reissued an “underperform” rating and issued a $31.00 price target on shares of APA in a research note on Friday, June 14th. Mizuho lifted their price objective on APA from $34.00 to $35.00 and gave the company an “underperform” rating in a research report on Tuesday, May 21st. Finally, Piper Sandler increased their target price on APA from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus price target of $38.86.

APA Stock Down 0.4 %

APA traded down $0.11 during trading on Thursday, hitting $31.08. 9,326,087 shares of the company’s stock traded hands, compared to its average volume of 6,289,438. APA Co. has a 12-month low of $27.17 and a 12-month high of $46.15. The company’s 50 day simple moving average is $29.67 and its two-hundred day simple moving average is $31.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 3.49 and a beta of 3.26.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. APA’s revenue was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 EPS. Analysts predict that APA Co. will post 4.17 earnings per share for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Monday, July 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

APA 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.