Hsbc Holdings PLC Has $12.53 Million Holdings in APA Corporation $APA

Key Points

• Hsbc Holdings PLC has reduced its holdings in APA Corporation by 37.8% during the first quarter, now owning 595,925 shares valued at $12.53 million.
• APA Corporation reported earnings of $0.87 per share for the last quarter, exceeding analysts' estimates, though revenue declined 14.4% compared to the same period last year.
• Currently, 83.01% of APA Corporation's stock is owned by institutional investors, with various hedge funds increasing their positions during recent reporting periods.

Hsbc Holdings PLC trimmed its position in shares of APA Corporation (NASDAQ:APA - Free Report) by 37.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 595,925 shares of the company's stock after selling 362,536 shares during the period. Hsbc Holdings PLC owned approximately 0.16% of APA worth $12,530,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of APA. Golden State Wealth Management LLC lifted its holdings in shares of APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after acquiring an additional 1,382 shares during the period. Rakuten Securities Inc. raised its position in APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after purchasing an additional 1,288 shares in the last quarter. Siemens Fonds Invest GmbH bought a new stake in APA during the fourth quarter worth $42,000. LRI Investments LLC acquired a new stake in shares of APA in the 4th quarter valued at $44,000. Finally, Allworth Financial LP boosted its holdings in shares of APA by 122.5% in the 1st quarter. Allworth Financial LP now owns 3,084 shares of the company's stock valued at $65,000 after purchasing an additional 1,698 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

APA Price Performance

Shares of NASDAQ APA opened at $21.64 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $7.74 billion, a PE ratio of 7.24, a P/E/G ratio of 6.37 and a beta of 1.23. The firm has a fifty day simple moving average of $19.49 and a 200 day simple moving average of $18.90. APA Corporation has a twelve month low of $13.58 and a twelve month high of $29.47.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.42. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.The business's revenue was down 14.4% compared to the same quarter last year. During the same period last year, the business posted $1.17 EPS. On average, sell-side analysts forecast that APA Corporation will post 4.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on APA shares. Roth Capital cut APA from a "buy" rating to a "neutral" rating and set a $22.00 price target for the company. in a report on Wednesday, August 13th. Piper Sandler boosted their target price on APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Mizuho reduced their price target on shares of APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. Barclays lifted their price target on shares of APA from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, Wells Fargo & Company boosted their price objective on shares of APA from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $23.94.

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.

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