Triton Wealth Management PLLC Reduces Position in APA Co. (NASDAQ:APA)

Triton Wealth Management PLLC trimmed its position in APA Co. (NASDAQ:APA) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,750 shares of the company’s stock after selling 4,196 shares during the quarter. Triton Wealth Management PLLC’s holdings in APA were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in APA. Czech National Bank raised its holdings in APA by 9.8% in the 3rd quarter. Czech National Bank now owns 75,353 shares of the company’s stock worth $1,843,000 after purchasing an additional 6,740 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in APA during the 2nd quarter valued at approximately $308,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of APA by 12.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 908,906 shares of the company’s stock worth $26,758,000 after acquiring an additional 100,160 shares during the period. Cetera Investment Advisers boosted its position in shares of APA by 160.1% during the second quarter. Cetera Investment Advisers now owns 75,593 shares of the company’s stock valued at $2,225,000 after purchasing an additional 46,535 shares in the last quarter. Finally, IMS Capital Management purchased a new stake in APA in the second quarter worth $318,000. Institutional investors own 83.01% of the company’s stock.

APA Price Performance

APA stock traded up $0.36 during mid-day trading on Friday, hitting $26.89. The company had a trading volume of 6,621,068 shares, compared to its average volume of 6,295,068. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 3.01 and a beta of 3.23. The company has a 50-day moving average price of $27.14 and a 200 day moving average price of $29.70. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. APA Co. has a 12-month low of $22.72 and a 12-month high of $43.58.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, research analysts anticipate that APA Co. will post 4.04 earnings per share for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s dividend payout ratio (DPR) is 11.19%.

Analyst Ratings Changes

A number of brokerages have recently commented on APA. Truist Financial dropped their target price on shares of APA from $46.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays lowered their target price on shares of APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday. Piper Sandler reduced their price objective on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. UBS Group lowered their price objective on APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Finally, Scotiabank reduced their price target on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, APA presently has an average rating of “Hold” and a consensus target price of $35.19.

APA Company 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.