Elevation Point Wealth Partners LLC purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,459 shares of the company's stock, valued at approximately $829,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hollencrest Capital Management raised its holdings in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company's stock worth $25,000 after buying an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of APA in the first quarter worth $28,000. Summit Securities Group LLC raised its holdings in shares of APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company's stock worth $32,000 after purchasing an additional 710 shares during the last quarter. MidFirst Bank purchased a new position in shares of APA during the second quarter worth $33,000. Finally, Gables Capital Management Inc. acquired a new position in APA during the second quarter valued at $36,000. 83.01% of the stock is owned by hedge funds and other institutional investors.
APA Stock Down 1.0%
APA stock opened at $42.96 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. The company's 50 day simple moving average is $36.14 and its 200-day simple moving average is $35.98. APA Corporation has a 12 month low of $21.47 and a 12 month high of $45.66. The firm has a market capitalization of $15.05 billion, a PE ratio of 9.08, a P/E/G ratio of 0.78 and a beta of 0.35.
APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the business posted $0.87 earnings per share. Equities analysts expect that APA Corporation will post 5.54 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
APA has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of APA from $45.00 to $41.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. Mizuho upgraded APA to a "strong sell" rating in a research note on Friday, July 31st. Morgan Stanley reduced their target price on shares of APA from $44.00 to $41.00 and set an "underweight" rating on the stock in a report on Friday, June 26th. KeyCorp set a $46.00 price objective on APA in a research report on Wednesday, August 12th. Finally, The Goldman Sachs Group cut their target price on APA from $34.00 to $32.00 and set a "sell" rating on the stock in a research report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $41.50.
Read Our Latest Analysis on APA
APA Company Profile
(
Free Report)
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.
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