Insider Selling: APA (NASDAQ:APA) VP Sells 9,800 Shares of Stock

APA Corporation (NASDAQ:APAGet Free Report) VP Mark Maddox sold 9,800 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through this link.

APA Stock Performance

Shares of APA stock traded up $0.30 during trading hours on Friday, hitting $38.64. The company’s stock had a trading volume of 1,695,547 shares, compared to its average volume of 7,833,495. The stock has a market cap of $13.66 billion, a PE ratio of 9.02 and a beta of 0.38. APA Corporation has a 12-month low of $16.25 and a 12-month high of $45.66. The company has a 50 day moving average of $38.75 and a 200 day moving average of $30.56. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58.

APA (NASDAQ:APAGet Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, sell-side analysts forecast that APA Corporation will post 5 EPS for the current fiscal year.

APA Dividend Announcement

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 2.6%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio (DPR) is 23.31%.

Trending Headlines about APA

Here are the key news stories impacting APA this week:

Hedge Funds Weigh In On APA

A number of large investors have recently added to or reduced their stakes in APA. Arkadios Wealth Advisors grew its position in shares of APA by 3.5% in the first quarter. Arkadios Wealth Advisors now owns 79,048 shares of the company’s stock valued at $3,355,000 after purchasing an additional 2,703 shares during the period. Altshuler Shaham Ltd raised its position in shares of APA by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after purchasing an additional 330 shares during the last quarter. Amundi purchased a new position in APA in the 1st quarter valued at about $584,000. EverSource Wealth Advisors LLC lifted its stake in APA by 27.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,482 shares of the company’s stock valued at $233,000 after buying an additional 1,181 shares in the last quarter. Finally, Empyrean Capital Partners LP acquired a new stake in APA in the 1st quarter worth about $6,026,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on APA shares. Weiss Ratings raised shares of APA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Raymond James Financial upped their price objective on shares of APA from $31.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Zacks Research upgraded APA from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Wolfe Research lifted their price target on APA from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Bank of America upped their price target on APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.12.

Check Out Our Latest Analysis on APA

APA Company Profile

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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.

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