Corebridge Financial Inc. Reduces Holdings in APA Co. (NASDAQ:APA)

Corebridge Financial Inc. lowered its position in APA Co. (NASDAQ:APA) by 7.1% during the 4th quarter, HoldingsChannel reports. The fund owned 87,541 shares of the company’s stock after selling 6,644 shares during the period. Corebridge Financial Inc.’s holdings in APA were worth $2,021,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC lifted its stake in shares of APA by 45.2% during the 4th quarter. LPL Financial LLC now owns 265,054 shares of the company’s stock worth $6,120,000 after acquiring an additional 82,453 shares during the last quarter. Samalin Investment Counsel LLC bought a new stake in shares of APA during the fourth quarter worth $307,000. Swan Global Investments LLC purchased a new stake in shares of APA during the fourth quarter valued at $210,000. Fox Run Management L.L.C. bought a new position in shares of APA in the fourth quarter worth about $431,000. Finally, KLP Kapitalforvaltning AS purchased a new position in APA in the 4th quarter worth about $6,465,000. Institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price objective on shares of APA in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Susquehanna decreased their target price on APA from $33.00 to $31.00 and set a “positive” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group reissued a “sell” rating and set a $23.00 price target on shares of APA in a research report on Wednesday, March 19th. Finally, Morgan Stanley set a $22.00 price objective on APA and gave the company an “underweight” rating in a report on Wednesday, March 26th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.25.

APA Trading Up 0.5 %

Shares of NASDAQ:APA opened at $21.13 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $7.69 billion, a P/E ratio of 2.98 and a beta of 3.26. The business’s 50-day moving average is $21.46 and its 200 day moving average is $22.87. APA Co. has a 1 year low of $17.66 and a 1 year high of $36.05.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. On average, research analysts predict that APA Co. will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is presently 44.25%.

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.