Courier Capital LLC Reduces Holdings in APA Corporation $APA

Courier Capital LLC decreased its position in APA Corporation (NASDAQ:APA) by 5.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 45,640 shares of the company’s stock after selling 2,615 shares during the period. Courier Capital LLC’s holdings in APA were worth $835,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in shares of APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock valued at $30,000 after buying an additional 1,382 shares during the period. Rakuten Securities Inc. grew its stake in shares of APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock valued at $32,000 after buying an additional 1,288 shares during the period. TD Private Client Wealth LLC grew its stake in shares of APA by 144.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock valued at $34,000 after buying an additional 1,104 shares during the period. SVB Wealth LLC purchased a new stake in shares of APA in the 1st quarter valued at approximately $55,000. Finally, Toth Financial Advisory Corp purchased a new stake in shares of APA in the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APA. Evercore ISI increased their price objective on shares of APA from $16.00 to $21.00 in a research report on Monday. Piper Sandler increased their price objective on shares of APA from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Wells Fargo & Company increased their price objective on shares of APA from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Barclays increased their price objective on shares of APA from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Finally, BMO Capital Markets increased their price objective on shares of APA from $28.00 to $30.00 and gave the stock a “market perform” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, APA currently has an average rating of “Hold” and a consensus target price of $24.00.

APA Stock Performance

Shares of APA stock opened at $22.91 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. APA Corporation has a 52 week low of $13.58 and a 52 week high of $25.83. The stock has a market capitalization of $8.20 billion, a PE ratio of 7.66, a P/E/G ratio of 6.56 and a beta of 1.16. The firm has a 50 day moving average of $22.66 and a two-hundred day moving average of $19.54.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.42. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. On average, research analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, October 22nd. APA’s payout ratio is 33.44%.

APA Company 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.