APA Co. (NASDAQ:APA) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its position in shares of APA Co. (NASDAQ:APA) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 592,544 shares of the company’s stock after selling 51,596 shares during the period. Raymond James & Associates’ holdings in APA were worth $14,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of APA by 164.2% during the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after purchasing an additional 1,604 shares in the last quarter. V Square Quantitative Management LLC lifted its position in APA by 32.1% in the third quarter. V Square Quantitative Management LLC now owns 10,173 shares of the company’s stock valued at $249,000 after acquiring an additional 2,470 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in APA by 2.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,644 shares of the company’s stock valued at $847,000 after acquiring an additional 952 shares during the last quarter. nVerses Capital LLC lifted its position in APA by 67.7% in the third quarter. nVerses Capital LLC now owns 27,500 shares of the company’s stock valued at $673,000 after acquiring an additional 11,100 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in APA by 9.3% in the third quarter. Vontobel Holding Ltd. now owns 191,616 shares of the company’s stock valued at $4,687,000 after acquiring an additional 16,230 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Up 0.6 %

APA stock opened at $24.82 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $9.21 billion, a PE ratio of 2.78 and a beta of 3.23. The company’s 50 day simple moving average is $26.00 and its 200-day simple moving average is $28.65. APA Co. has a 12 month low of $22.72 and a 12 month high of $40.93.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Equities analysts expect that APA Co. will post 3.97 earnings per share for the current fiscal year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of APA from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their target price on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Evercore ISI reduced their target price on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Barclays reduced their target price on shares of APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Wolfe Research started coverage on shares of APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus price target of $34.18.

About APA

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.