Allspring Global Investments Holdings LLC Trims Stock Holdings in APA Co. (NASDAQ:APA)

Allspring Global Investments Holdings LLC lowered its stake in shares of APA Co. (NASDAQ:APA) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 231,192 shares of the company’s stock after selling 8,698 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of APA worth $5,655,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd increased its holdings in APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in APA by 386.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares during the period. Rothschild Investment LLC purchased a new position in APA during the second quarter worth about $42,000. GPS Wealth Strategies Group LLC increased its stake in APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares during the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of APA in the 2nd quarter valued at about $57,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on APA shares. Barclays dropped their price objective on shares of APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Citigroup decreased their price target on shares of APA from $32.00 to $29.00 in a research note on Friday, October 18th. Evercore ISI cut their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Sanford C. Bernstein decreased their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Finally, Wolfe Research started coverage on shares of APA in a research note on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, APA has an average rating of “Hold” and an average price target of $34.18.

APA Stock Performance

Shares of APA stock opened at $24.82 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 2.78 and a beta of 3.23. APA Co. has a one year low of $22.72 and a one year high of $40.93. The company’s 50-day moving average is $26.00 and its 200 day moving average is $28.65.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating 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 the consensus estimate of $2.28 billion. During the same period last year, the business posted $0.85 EPS. The company’s revenue was up 41.6% compared to the same quarter last year. Sell-side analysts expect that APA Co. will post 3.97 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.03%. APA’s dividend payout ratio is presently 11.19%.

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.