Rafferty Asset Management LLC Lowers Position in APA Corporation $APA

Key Points

• Rafferty Asset Management LLC reduced its holdings in APA Corporation by 9.0% during the first quarter, lowering its ownership to approximately 340,448 shares valued at $7,156,000.
• Several investors increased their stakes in APA, with Golden State Wealth Management LLC boosting its position by an astounding 2,709.8% during the same period.
• Analysts have recently adjusted their price targets for APA, with the consensus rating reflecting a "Hold" and an average target price of $23.72.

Rafferty Asset Management LLC trimmed its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,448 shares of the company's stock after selling 33,731 shares during the period. Rafferty Asset Management LLC owned about 0.09% of APA worth $7,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of APA. Golden State Wealth Management LLC lifted its position in shares of APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after purchasing an additional 1,382 shares during the period. Rakuten Securities Inc. raised its stake in APA by 499.2% in the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after buying an additional 1,288 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in APA during the fourth quarter worth $42,000. LRI Investments LLC bought a new stake in APA during the 4th quarter valued at $44,000. Finally, SVB Wealth LLC bought a new stake in APA during the 1st quarter valued at $55,000. Institutional investors own 83.01% of the company's stock.

Analysts Set New Price Targets

APA has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wells Fargo & Company boosted their target price on shares of APA from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. Barclays increased their price target on shares of APA from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. UBS Group lifted their price objective on shares of APA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, Scotiabank reissued a "sector perform" rating and set a $22.00 target price (up previously from $14.00) on shares of APA in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, APA presently has a consensus rating of "Hold" and a consensus target price of $23.72.

APA Price Performance

Shares of APA stock opened at $22.59 on Thursday. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $29.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 6.51 and a beta of 1.23. The stock's 50-day simple moving average is $19.60 and its 200-day simple moving average is $18.95.

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

APA Company Profile

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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