Corient Private Wealth LP Buys New Shares in APA Corporation $APA

Key Points

• Corient Private Wealth LP purchased 193,870 APA shares worth approximately $6.3 million, representing about 0.06% of the company. Institutional investors collectively own 83.01% of APA.
• APA reported quarterly revenue of $2.37 billion and earnings of $1.89 per share, narrowly missing analyst expectations of $2.46 billion and $1.90 per share, respectively.
• APA shares opened at $42.54, while analysts maintain a consensus “Hold” rating with an average price target of $41.50.

Corient Private Wealth LP purchased a new stake in APA Corporation (NASDAQ:APA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 193,870 shares of the company's stock, valued at approximately $6,318,000. Corient Private Wealth LP owned about 0.06% of APA at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of APA by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company's stock valued at $700,000 after acquiring an additional 2,070 shares in the last quarter. NewEdge Advisors LLC boosted its position in APA by 49.6% during 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 last quarter. Goldman Sachs Group Inc. boosted its position in APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company's stock valued at $56,092,000 after purchasing an additional 806,252 shares during the last quarter. Focus Partners Wealth grew its stake in APA by 10.6% in the first quarter. Focus Partners Wealth now owns 44,833 shares of the company's stock valued at $942,000 after purchasing an additional 4,297 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in APA in the second quarter valued at approximately $5,199,000. 83.01% of the stock is owned by institutional investors.

APA Price Performance

APA stock opened at $42.54 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $14.90 billion, a PE ratio of 8.99, a PEG ratio of 0.77 and a beta of 0.35. APA Corporation has a 1-year low of $21.57 and a 1-year high of $45.66. The business's 50 day simple moving average is $36.80 and its 200 day simple moving average is $36.39.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company posted $0.87 EPS. As a group, research analysts anticipate that APA Corporation will post 5.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APA shares. Roth Capital set a $39.00 price objective on APA in a report on Thursday, August 6th. Citigroup boosted 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. Barclays dropped their price target on shares of APA from $41.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Truist Financial increased their price target on shares of APA from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Monday, August 10th. Finally, Raymond James Financial decreased their price objective on shares of APA from $57.00 to $50.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Ten analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, APA has a consensus rating of "Hold" and a consensus target price of $41.50.

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.

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