APA Co. (NASDAQ:APA) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its holdings in APA Co. (NASDAQ:APA) by 40.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,448 shares of the company’s stock after selling 63,876 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in APA were worth $3,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of APA. Black Maple Capital Management LP grew its holdings in shares of APA by 134.3% in the first quarter. Black Maple Capital Management LP now owns 104,877 shares of the company’s stock valued at $3,606,000 after purchasing an additional 60,112 shares during the period. Paloma Partners Management Co purchased a new position in APA during the first quarter worth about $316,000. Public Employees Retirement System of Ohio boosted its stake in APA by 8.6% during the first quarter. Public Employees Retirement System of Ohio now owns 139,365 shares of the company’s stock worth $4,791,000 after buying an additional 10,981 shares during the period. Ceeto Capital Group LLC boosted its stake in APA by 46.2% during the first quarter. Ceeto Capital Group LLC now owns 19,000 shares of the company’s stock worth $653,000 after buying an additional 6,000 shares during the period. Finally, Magnetar Financial LLC purchased a new position in APA during the first quarter worth about $1,464,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Up 1.7 %

APA stock traded up $0.52 during midday trading on Wednesday, reaching $31.55. 1,851,196 shares of the company were exchanged, compared to its average volume of 6,240,929. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 3.47 and a beta of 3.26. The stock’s 50-day simple moving average is $29.65 and its 200 day simple moving average is $31.00. APA Co. has a 1-year low of $27.17 and a 1-year high of $46.15.

APA (NASDAQ:APA) last announced its earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.19 earnings per share. On average, equities analysts forecast that APA Co. will post 4.17 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.17%. APA’s dividend payout ratio (DPR) is presently 11.19%.

Analysts Set New Price Targets

Several brokerages have weighed in on APA. Scotiabank lowered their target price on shares of APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 target price on shares of APA in a research note on Monday, April 15th. JPMorgan Chase & Co. raised their price objective on shares of APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Wells Fargo & Company lowered their price objective on shares of APA from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of APA in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, APA has an average rating of “Hold” and an average price target of $38.86.

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.