International Assets Investment Management LLC Sells 24,473 Shares of APA Co. (NASDAQ:APA)

International Assets Investment Management LLC trimmed its stake in shares of APA Co. (NASDAQ:APA) by 79.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 6,332 shares of the company’s stock after selling 24,473 shares during the quarter. International Assets Investment Management LLC’s holdings in APA were worth $224,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of APA. Envestnet Asset Management Inc. lifted its position in shares of APA by 0.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 135,403 shares of the company’s stock valued at $5,565,000 after acquiring an additional 414 shares during the period. Mariner LLC lifted its position in shares of APA by 19.4% during the 3rd quarter. Mariner LLC now owns 73,193 shares of the company’s stock worth $3,008,000 after buying an additional 11,915 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of APA by 122.9% during the 3rd quarter. Federated Hermes Inc. now owns 1,872 shares of the company’s stock worth $77,000 after buying an additional 1,032 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of APA by 87.6% during the 3rd quarter. Natixis Advisors L.P. now owns 84,749 shares of the company’s stock worth $3,483,000 after buying an additional 39,564 shares during the last quarter. Finally, Synovus Financial Corp raised its position in APA by 9.0% in the third quarter. Synovus Financial Corp now owns 11,472 shares of the company’s stock valued at $472,000 after purchasing an additional 948 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Stock Down 1.2 %

Shares of NASDAQ:APA opened at $28.64 on Thursday. The business’s 50 day simple moving average is $30.01 and its two-hundred day simple moving average is $31.84. The firm has a market cap of $10.63 billion, a P/E ratio of 3.20, a PEG ratio of 0.34 and a beta of 3.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. APA Co. has a 52-week low of $27.17 and a 52-week high of $46.15.

APA (NASDAQ:APA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. As a group, research analysts forecast that APA Co. will post 4.47 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be issued a $0.25 dividend. The ex-dividend date is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.49%. APA’s dividend payout ratio is presently 11.19%.

Analysts Set New Price Targets

Several equities analysts have commented on APA shares. JPMorgan Chase & Co. increased their target price on APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Roth Mkm increased their target price on APA from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Citigroup dropped their target price on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Susquehanna increased their target price on APA from $54.00 to $57.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Finally, Piper Sandler decreased their price target on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.52.

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.