Jupiter Topco LLC Purchases Shares of 156,789 APA Corporation $APA

Key Points

• Jupiter Topco LLC acquired 156,789 APA shares worth approximately $5.1 million in the second quarter. Institutional investors and hedge funds collectively own 83.01% of APA.
• APA stock opened at $43.15, near its 12-month high of $45.66, with a market capitalization of $15.12 billion and a P/E ratio of 9.12.
• APA slightly missed quarterly expectations, reporting $1.89 EPS versus $1.90 expected and revenue of $2.37 billion versus $2.46 billion. Analysts maintain a consensus “Hold” rating with a $41.50 price target.

Jupiter Topco LLC acquired a new stake in APA Corporation (NASDAQ:APA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 156,789 shares of the company's stock, valued at approximately $5,103,000.

Other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management grew its holdings in APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company's stock worth $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC bought a new stake in APA in the first quarter valued at approximately $28,000. Compass Financial Management LLC bought a new stake in APA in the second quarter valued at approximately $33,000. MidFirst Bank acquired a new stake in shares of APA in the second quarter valued at approximately $33,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of APA in the first quarter valued at approximately $44,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Up 1.4%

APA stock opened at $43.15 on Tuesday. The firm has a 50-day moving average price of $36.98 and a 200-day moving average price of $36.50. 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. The stock has a market capitalization of $15.12 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (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 the consensus estimate of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period last year, the firm posted $0.87 earnings per share. As a group, equities research analysts anticipate that APA Corporation will post 5.54 EPS for the current fiscal year.

Analyst Ratings Changes

APA has been the topic of a number of research analyst reports. Roth Capital set a $39.00 price target on APA in a research note on Thursday, August 6th. Benchmark lifted their price objective on shares of APA from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Wells Fargo & Company upped their price objective on shares of APA from $39.00 to $49.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. KeyCorp set a $46.00 price objective on shares of APA in a research report on Wednesday, August 12th. Finally, Zacks Research cut shares of APA from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, APA has a consensus rating of "Hold" and a consensus price target of $41.50.

APA 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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