Canandaigua National Bank & Trust Co. Makes New $907,000 Investment in APA Corporation $APA

Canandaigua National Bank & Trust Co. acquired a new position in shares of APA Corporation (NASDAQ:APA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,839 shares of the company’s stock, valued at approximately $907,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd increased its holdings in APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock valued at $52,000 after buying an additional 330 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of APA by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock valued at $2,609,000 after purchasing an additional 375 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of APA by 1.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after purchasing an additional 396 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock worth $358,000 after buying an additional 461 shares in the last quarter. Finally, Hollencrest Capital Management boosted its holdings in shares of APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other APA news, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president directly owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APA. Royal Bank Of Canada raised their target price on APA from $29.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. The Goldman Sachs Group lowered their price objective on shares of APA from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Tuesday, June 30th. Barclays upped their target price on shares of APA from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Zacks Research cut shares of APA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, UBS Group lowered their price target on shares of APA from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.35.

APA Stock Performance

APA stock opened at $34.66 on Thursday. APA Corporation has a 1-year low of $17.86 and a 1-year high of $45.66. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a market cap of $12.25 billion, a PE ratio of 8.08 and a beta of 0.35. The business’s 50-day moving average price is $35.10 and its two-hundred day moving average price is $34.59.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.During the same quarter last year, the company earned $0.87 earnings per share. As a group, research analysts forecast that APA Corporation will post 4.92 earnings per share for the current year.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, July 22nd. APA’s dividend payout ratio is presently 23.31%.

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.