Greenfield Seitz Capital Management LLC Reduces Position in APA Corporation $APA

Greenfield Seitz Capital Management LLC trimmed its stake in APA Corporation (NASDAQ:APA) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,664 shares of the company’s stock after selling 13,974 shares during the quarter. APA makes up 1.5% of Greenfield Seitz Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Greenfield Seitz Capital Management LLC owned approximately 0.05% of APA worth $4,726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in APA by 2.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,208,961 shares of the company’s stock worth $259,882,000 after purchasing an additional 275,981 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of APA by 13.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,030,230 shares of the company’s stock worth $340,657,000 after purchasing an additional 1,674,739 shares during the last quarter. Northern Trust Corp boosted its stake in shares of APA by 29.6% during the 3rd quarter. Northern Trust Corp now owns 4,462,476 shares of the company’s stock worth $108,349,000 after purchasing an additional 1,018,326 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of APA by 157.1% during the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after buying an additional 1,869,891 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of APA by 23.9% in the second quarter. First Trust Advisors LP now owns 2,710,405 shares of the company’s stock valued at $49,573,000 after buying an additional 522,947 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on APA. Wolfe Research lifted their target price on shares of APA from $39.00 to $45.00 in a research note on Monday, March 9th. Evercore lifted their price objective on APA from $21.00 to $25.00 in a research report on Thursday, February 26th. Raymond James Financial reiterated an “outperform” rating and issued a $31.00 target price on shares of APA in a research note on Monday, November 24th. Johnson Rice upgraded APA from a “hold” rating to an “accumulate” rating and increased their target price for the stock from $35.00 to $40.00 in a research report on Thursday, December 4th. Finally, Benchmark lifted their price target on APA from $33.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.16.

APA Price Performance

Shares of APA stock opened at $35.87 on Wednesday. The business’s fifty day moving average price is $28.32 and its 200 day moving average price is $25.56. APA Corporation has a twelve month low of $13.58 and a twelve month high of $36.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $12.67 billion, a P/E ratio of 8.99, a PEG ratio of 17.04 and a beta of 0.67.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.62 by $0.29. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.The firm’s revenue was down 26.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. As a group, research analysts anticipate that APA Corporation will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA’s dividend payout ratio is 25.06%.

APA Company 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.