L2 Asset Management LLC bought a new position in APA Corporation (NASDAQ:APA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 45,066 shares of the company's stock, valued at approximately $1,468,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in APA. Altshuler Shaham Ltd increased its position in shares of APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company's stock valued at $52,000 after buying an additional 330 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in APA by 0.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company's stock worth $2,609,000 after acquiring an additional 375 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company's stock worth $689,000 after acquiring an additional 396 shares in the last quarter. Fortitude Family Office LLC grew its stake in APA by 37.9% in the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company's stock valued at $48,000 after acquiring an additional 409 shares during the period. Finally, IRON Financial LLC grew its stake in APA by 7.2% in the second quarter. IRON Financial LLC now owns 7,279 shares of the company's stock valued at $237,000 after acquiring an additional 490 shares during the period. 83.01% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on APA. KeyCorp set a $46.00 price target on APA in a research report on Wednesday, August 12th. Capital One Financial boosted their price objective on APA from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Barclays lowered their target price on APA from $41.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, August 17th. JPMorgan Chase & Co. raised their target price on shares of APA from $38.00 to $41.00 in a report on Friday, May 8th. Finally, Roth Capital set a $39.00 price target on shares of APA in a research note on Thursday, August 6th. Ten 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 data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $41.50.
Check Out Our Latest Analysis on APA
APA Price Performance
APA stock opened at $42.96 on Tuesday. The stock has a 50-day moving average price of $36.14 and a two-hundred day moving average price of $35.98. APA Corporation has a 1 year low of $21.47 and a 1 year high of $45.66. The stock has a market cap of $15.05 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.78 and a beta of 0.35. 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 (NASDAQ:APA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 EPS 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 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 quarter last year, the firm earned $0.87 earnings per share. Equities analysts forecast that APA Corporation will post 5.54 EPS for the current fiscal year.
APA Company Profile
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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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