KBC Group NV Cuts Stake in APA Corporation $APA

KBC Group NV lessened its stake in APA Corporation (NASDAQ:APA) by 33.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,998 shares of the company’s stock after selling 5,632 shares during the quarter. KBC Group NV’s holdings in APA were worth $201,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. TD Private Client Wealth LLC increased its holdings in 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 acquiring an additional 1,104 shares during the last quarter. CVA Family Office LLC grew its position in shares of APA by 6,096.7% during the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after purchasing an additional 1,829 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of APA by 214.3% in the second quarter. Whittier Trust Co. now owns 2,200 shares of the company’s stock worth $40,000 after purchasing an additional 1,500 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of APA by 1,731.8% in the second quarter. Hantz Financial Services Inc. now owns 2,363 shares of the company’s stock worth $43,000 after purchasing an additional 2,234 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of APA by 60.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,645 shares of the company’s stock worth $48,000 after buying an additional 1,000 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APA has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on APA from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, August 15th. Roth Capital raised their target price on shares of APA from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “hold (c-)” rating on shares of APA in a research report on Monday. Mizuho increased their price objective on shares of APA from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. Finally, Cowen reissued a “hold” rating on shares of APA in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, APA currently has an average rating of “Hold” and an average target price of $24.56.

APA Stock Up 2.2%

Shares of APA opened at $24.92 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. The business has a fifty day moving average of $23.63 and a 200 day moving average of $20.83. The company has a market cap of $8.84 billion, a PE ratio of 8.33, a P/E/G ratio of 6.28 and a beta of 1.12. APA Corporation has a 52-week low of $13.58 and a 52-week high of $25.83.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.19. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. On average, sell-side analysts expect that APA Corporation will post 4.03 EPS for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Wednesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.0%. APA’s dividend payout ratio (DPR) is presently 24.04%.

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.