APA Corporation $APA Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors cut its APA stake by 47.2% in the second quarter, selling 179,725 shares and retaining 200,896 shares valued at approximately $6.5 million. Institutional investors and hedge funds collectively own 83.01% of APA.
• APA reported quarterly revenue of $2.37 billion and earnings of $1.89 per share, narrowly missing analyst estimates of $2.46 billion and $1.90 per share, respectively.
• Analyst sentiment remains mixed, with 10 Buy, 17 Hold, and four Sell ratings; APA has a consensus rating of Hold and an average price target of $42.76.

HighTower Advisors LLC cut its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 47.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,896 shares of the company's stock after selling 179,725 shares during the quarter. HighTower Advisors LLC owned about 0.06% of APA worth $6,543,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in APA by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company's stock worth $700,000 after acquiring an additional 2,070 shares during the period. NewEdge Advisors LLC increased its holdings in shares of APA by 49.6% in the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company's stock valued at $227,000 after purchasing an additional 3,578 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of APA by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company's stock worth $56,092,000 after purchasing an additional 806,252 shares during the last quarter. Focus Partners Wealth raised its stake in shares of APA by 10.6% in the first quarter. Focus Partners Wealth now owns 44,833 shares of the company's stock worth $942,000 after purchasing an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of APA during the second quarter worth about $5,199,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Trading Down 0.7%

APA stock opened at $44.53 on Friday. 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 Corporation has a 12 month low of $21.63 and a 12 month high of $46.10. The stock's 50 day simple moving average is $38.74 and its two-hundred day simple moving average is $37.39. The firm has a market cap of $15.60 billion, a PE ratio of 9.41, a P/E/G ratio of 0.79 and a beta of 0.37.

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

Analyst Ratings Changes

A number of brokerages recently commented on APA. Citigroup upped their target price on APA from $38.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, August 20th. Wall Street Zen raised shares of APA from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Sanford C. Bernstein lifted their price objective on shares of APA from $37.00 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, May 20th. Seaport Research Partners initiated coverage on shares of APA in a report on Thursday, September 3rd. They issued a "neutral" rating on the stock. Finally, Truist Financial increased their price objective on shares of APA from $38.00 to $39.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, APA presently has a consensus rating of "Hold" and a consensus price target of $42.76.

About APA

APA Corporation NASDAQ: APA is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates through subsidiaries and manages upstream assets spanning exploration, drilling, production and related field-development activities.

APA's principal producing operations are in the Permian Basin of the United States and in Egypt. The company has also pursued offshore exploration opportunities in Suriname, where it has participated in drilling and appraisal activities in the country's offshore blocks.

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