Mirae Asset Global Investments Co. Ltd. Sells 2,849 Shares of APA Co. (NASDAQ:APA)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of APA Co. (NASDAQ:APA) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,236 shares of the company’s stock after selling 2,849 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in APA were worth $2,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in APA. Cetera Advisor Networks LLC purchased a new stake in APA during the 1st quarter valued at approximately $295,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in APA by 3,173.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,088 shares of the company’s stock valued at $706,000 after buying an additional 16,566 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of APA in the first quarter valued at $145,000. Raymond James Trust N.A. purchased a new position in shares of APA in the first quarter valued at $328,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of APA by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,362,836 shares of the company’s stock valued at $56,324,000 after purchasing an additional 29,907 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Down 0.2 %

NASDAQ:APA opened at $32.36 on Friday. APA Co. has a twelve month low of $29.47 and a twelve month high of $46.15. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 3.49 and a beta of 3.27. The stock has a fifty day simple moving average of $32.37 and a 200-day simple moving average of $34.67. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41.

APA (NASDAQ:APA) last released its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.18). The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. Analysts anticipate that APA Co. will post 4.85 EPS for the current year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.09%. APA’s payout ratio is currently 10.78%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APA. Susquehanna cut their target price on shares of APA from $53.00 to $50.00 and set a “positive” rating for the company in a report on Friday, January 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 target price on shares of APA in a report on Monday, April 8th. Morgan Stanley reissued an “underweight” rating and issued a $28.00 target price on shares of APA in a report on Monday, April 15th. Barclays initiated coverage on shares of APA in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $40.00 target price for the company. Finally, Roth Mkm raised their price target on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.90.

About APA

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.