KLCM Advisors Inc. Lowers Holdings in APA Corporation $APA

KLCM Advisors Inc. decreased its position in APA Corporation (NASDAQ:APA) by 54.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,937 shares of the company’s stock after selling 389,981 shares during the period. APA makes up approximately 1.2% of KLCM Advisors Inc.’s holdings, making the stock its 23rd biggest position. KLCM Advisors Inc.’s holdings in APA were worth $13,748,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in APA in the first quarter worth about $28,000. Summit Securities Group LLC raised its holdings in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after acquiring an additional 710 shares during the last quarter. Camelot Portfolios LLC purchased a new position in APA in the 4th quarter worth approximately $37,000. Community Bank N.A. bought a new position in APA in the 3rd quarter valued at approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in APA during the 4th quarter valued at $47,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Performance

Shares of NASDAQ APA traded up $0.15 during midday trading on Friday, hitting $33.44. 3,236,575 shares of the company’s stock traded hands, compared to its average volume of 5,534,070. The firm has a fifty day moving average of $36.10 and a 200 day moving average of $33.16. APA Corporation has a 1 year low of $17.86 and a 1 year high of $45.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 7.79 and a beta of 0.35.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.13 billion. The firm’s revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 earnings per share. On average, analysts forecast that APA Corporation will post 5.18 earnings per share for the current year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Wednesday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, July 22nd. APA’s dividend payout ratio (DPR) is currently 23.31%.

Insider Buying and Selling

In related news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the transaction, the vice president directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

APA has been the subject of several recent analyst reports. UBS Group boosted their price target on APA from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. The Goldman Sachs Group reduced their price objective on APA from $34.00 to $32.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. Truist Financial decreased their target price on APA from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday. Zacks Research downgraded shares of APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley decreased their price objective on shares of APA from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, June 26th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.85.

APA Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.