Allianz Asset Management GmbH Has $86.73 Million Holdings in APA Corporation $APA

Key Points

• Allianz Asset Management significantly increased its APA stake by 240.5% in the second quarter, acquiring 1.88 million additional shares and bringing its holdings to 2.66 million shares valued at approximately $86.7 million.
• Institutional investors and hedge funds own 83.01% of APA. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $42.07.
• APA reported quarterly earnings of $1.89 per share and revenue of $2.37 billion, slightly below analyst expectations, while shares opened at $42.77 and remained near their 12-month high.

Allianz Asset Management GmbH raised its holdings in APA Corporation (NASDAQ:APA - Free Report) by 240.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,662,794 shares of the company's stock after buying an additional 1,880,674 shares during the period. Allianz Asset Management GmbH owned about 0.76% of APA worth $86,727,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd increased its holdings in APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company's stock valued at $52,000 after purchasing an additional 330 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in APA by 0.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company's stock worth $2,609,000 after purchasing an additional 375 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company's stock worth $689,000 after buying an additional 396 shares during the period. Fortitude Family Office LLC boosted its position in shares of APA by 37.9% during the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company's stock worth $48,000 after buying an additional 409 shares during the period. Finally, IRON Financial LLC grew its stake in shares of APA by 7.2% in the second quarter. IRON Financial LLC now owns 7,279 shares of the company's stock valued at $237,000 after buying an additional 490 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APA. Mizuho raised APA to a "strong sell" rating in a research note on Friday, July 31st. The Goldman Sachs Group reissued a "sell" rating and issued a $43.00 price objective on shares of APA in a research note on Monday. KeyCorp set a $46.00 target price on shares of APA in a research note on Wednesday, August 12th. Citigroup increased their target price on shares of APA from $38.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, August 20th. Finally, Capital One Financial upped their price objective on APA from $50.00 to $51.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, APA has a consensus rating of "Hold" and a consensus price target of $42.07.

APA Stock Performance

Shares of APA opened at $42.77 on Tuesday. The company's 50 day simple moving average is $38.02 and its 200-day simple moving average is $37.07. The firm has a market cap of $14.98 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 0.75 and a beta of 0.37. APA Corporation has a 12-month low of $21.57 and a 12-month high of $45.66. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). The company had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same quarter last year, the company earned $0.87 EPS. As a group, equities analysts predict that APA Corporation will post 5.7 EPS for the current year.

About APA

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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