APA Corporation (NASDAQ:APA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in APA Corporation (NASDAQ:APA) by 11.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,613,655 shares of the company’s stock after selling 479,011 shares during the quarter. Bank of New York Mellon Corp owned about 1.00% of APA worth $75,959,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. lifted its holdings in APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after acquiring an additional 1,077 shares during the period. Golden State Wealth Management LLC increased its position in APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock worth $30,000 after purchasing an additional 1,382 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in APA in the 4th quarter valued at about $35,000. Rakuten Securities Inc. grew its holdings in APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock valued at $32,000 after buying an additional 1,288 shares during the period. Finally, Siemens Fonds Invest GmbH purchased a new stake in APA in the 4th quarter valued at about $42,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their target price on APA from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, May 23rd. Scotiabank reduced their price target on APA from $26.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. cut their target price on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Barclays set a $21.00 target price on APA and gave the company an “equal weight” rating in a research report on Monday. Finally, Argus raised APA to a “hold” rating in a research report on Friday, May 16th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.83.

APA Trading Down 0.2%

NASDAQ:APA opened at $20.40 on Friday. APA Corporation has a 1 year low of $13.58 and a 1 year high of $33.41. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 6.60 and a beta of 1.25. The business has a fifty day moving average of $18.29 and a 200-day moving average of $19.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.89 and a current ratio of 0.89.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.23. APA had a return on equity of 23.22% and a net margin of 9.75%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. Equities analysts predict that APA Corporation will post 4.03 earnings per share for the current year.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $1.00 annualized dividend and a yield of 4.90%. APA’s dividend payout ratio is currently 35.97%.

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.