Ieq Capital LLC acquired a new position in shares of APA Corporation (NASDAQ:APA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 47,245 shares of the company's stock, valued at approximately $1,539,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in APA. BlackRock Inc. acquired a new stake in shares of APA in the 2nd quarter valued at about $1,173,231,000. Dimensional Fund Advisors LP increased its position in APA by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company's stock worth $695,099,000 after buying an additional 1,055,016 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in APA by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,710,034 shares of the company's stock valued at $359,807,000 after buying an additional 285,542 shares during the last quarter. Morgan Stanley boosted its holdings in shares of APA by 21.8% in the fourth quarter. Morgan Stanley now owns 10,425,586 shares of the company's stock valued at $255,010,000 after acquiring an additional 1,864,900 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of APA by 76.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company's stock valued at $175,426,000 after acquiring an additional 3,117,032 shares during the period. Institutional investors and hedge funds own 83.01% of the company's stock.
APA Price Performance
APA stock opened at $41.19 on Thursday. 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 business has a 50 day simple moving average of $36.42 and a 200-day simple moving average of $36.18. APA Corporation has a 12 month low of $21.57 and a 12 month high of $45.66. The stock has a market capitalization of $14.43 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 0.75 and a beta of 0.35.
APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same quarter last year, the business earned $0.87 earnings per share. Equities analysts predict that APA Corporation will post 5.54 earnings per share for the current year.
Analyst Upgrades and Downgrades
APA has been the topic of a number of recent research reports. Truist Financial lifted their target price on shares of APA from $38.00 to $39.00 and gave the company a "hold" rating in a report on Monday, August 10th. Weiss Ratings raised shares of APA from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Mizuho upgraded shares of APA to a "strong sell" rating in a research note on Friday, July 31st. Argus raised shares of APA from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a report on Wednesday, August 19th. Finally, Susquehanna increased their target price on shares of APA from $45.00 to $47.00 and gave the stock a "positive" rating in a research note on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, APA currently has an average rating of "Hold" and an average target price of $41.50.
View Our Latest Analysis on APA
About APA
(
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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