Turtle Creek Wealth Advisors LLC Sells 43,412 Shares of APA Corporation $APA

Turtle Creek Wealth Advisors LLC cut its stake in shares of APA Corporation (NASDAQ:APA) by 89.6% in the 1st quarter, HoldingsChannel reports. The fund owned 5,064 shares of the company’s stock after selling 43,412 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in APA were worth $215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Summit Securities Group LLC increased its stake in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after purchasing an additional 710 shares during the period. Camelot Portfolios LLC purchased a new stake in shares of APA during the fourth quarter valued at approximately $37,000. Community Bank N.A. purchased a new stake in shares of APA during the third quarter valued at approximately $43,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of APA in the fourth quarter worth approximately $47,000. Finally, Virtus Advisers LLC bought a new position in shares of APA in the third quarter worth approximately $57,000. 83.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 value of $392,392.00. Following the completion of the sale, the vice president directly owned 66,810 shares of the company’s stock, 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 the SEC website. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on APA. Morgan Stanley decreased their target price on shares of APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, June 26th. Stephens increased their price target on shares of APA from $43.00 to $47.00 in a research report on Wednesday, June 10th. Roth Mkm raised shares of APA from a “neutral” rating to a “buy” rating and raised their price target for the stock from $37.00 to $38.00 in a report on Monday, June 22nd. Evercore boosted their price objective on shares of APA from $25.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, March 24th. Finally, Citigroup upped their price objective on shares of APA from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Eight investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, APA has an average rating of “Hold” and an average price target of $40.88.

APA Price Performance

APA opened at $32.36 on Monday. 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 stock has a market capitalization of $11.44 billion, a PE ratio of 7.54 and a beta of 0.35. The stock’s 50 day moving average price is $36.61 and its 200-day moving average price is $32.89. APA Corporation has a 52-week low of $17.86 and a 52-week high of $45.66.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm’s revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. On average, equities research analysts predict that APA Corporation will post 5.35 EPS for the current year.

APA Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 3.1%. APA’s dividend payout ratio is 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.