APA Corporation $APA Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its position in APA Corporation (NASDAQ:APA) by 6.1% during the 1st quarter, HoldingsChannel reports. The firm owned 250,107 shares of the company’s stock after selling 16,340 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in APA were worth $10,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP grew its position in APA by 5.1% in the 1st quarter. Quantinno Capital Management LP now owns 809,126 shares of the company’s stock worth $34,339,000 after purchasing an additional 39,375 shares during the last quarter. Clough Capital Partners L P bought a new stake in shares of APA during the first quarter valued at approximately $3,206,000. Lazard Asset Management LLC bought a new stake in shares of APA during the first quarter valued at approximately $20,595,000. OMERS ADMINISTRATION Corp boosted its position in shares of APA by 7.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 97,891 shares of the company’s stock worth $4,154,000 after buying an additional 7,200 shares during the period. Finally, Waverly Advisors LLC acquired a new position in shares of APA during the first quarter worth approximately $401,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Down 1.2%

Shares of APA stock opened at $36.87 on Tuesday. APA Corporation has a 1 year low of $17.86 and a 1 year high of $45.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The business’s fifty day moving average is $35.17 and its 200-day moving average is $34.46. The stock has a market cap of $13.03 billion, a PE ratio of 8.59 and a beta of 0.35.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The company’s revenue was down 11.7% on a year-over-year basis. Equities analysts expect that APA Corporation will post 4.92 earnings per share for the current fiscal year.

APA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Wednesday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio is presently 23.31%.

Insiders Place Their Bets

In other 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 transaction, the vice president owned 66,810 shares in the company, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

APA has been the topic of several analyst reports. Truist Financial lowered their target price on APA from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Susquehanna reduced their price target on APA from $47.00 to $45.00 and set a “positive” rating for the company in a research report on Tuesday, July 21st. Raymond James Financial decreased their price target on APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. The Goldman Sachs Group lowered their price target on APA from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada upped their price objective on shares of APA from $29.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, APA presently has a consensus rating of “Hold” and a consensus price target of $40.35.

APA Company 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.