Tidal Investments LLC Acquires 64,266 Shares of APA Corporation $APA

Key Points

• Tidal Investments increased its APA Corporation stake by 30.3% in the second quarter, purchasing 64,266 additional shares and bringing its holdings to 276,070 shares valued at approximately $8.99 million.
• Institutional investors own 83.01% of APA, with Goldman Sachs also significantly increasing its position and Arrowstreet Capital initiating a new stake.
• Analyst sentiment remains mixed, with APA carrying an average “Hold” rating and a $42.76 price target. The company recently reported quarterly EPS of $1.89 and revenue of $2.37 billion, slightly below consensus estimates.

Tidal Investments LLC boosted its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 30.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,070 shares of the company's stock after purchasing an additional 64,266 shares during the period. Tidal Investments LLC owned 0.08% of APA worth $8,992,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in APA by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company's stock worth $700,000 after purchasing an additional 2,070 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of APA by 49.6% in the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company's stock valued at $227,000 after buying an additional 3,578 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of APA by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company's stock valued at $56,092,000 after buying an additional 806,252 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of APA by 10.6% in the first quarter. Focus Partners Wealth now owns 44,833 shares of the company's stock valued at $942,000 after buying an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of APA in the second quarter valued at about $5,199,000. Institutional investors own 83.01% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on APA. Truist Financial increased their price objective on shares of APA from $38.00 to $39.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Weiss Ratings downgraded shares of APA from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 31st. Roth Capital set a $39.00 target price on shares of APA in a research report on Thursday, August 6th. Sanford C. Bernstein increased their price target on shares of APA from $37.00 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, May 20th. Finally, Argus raised shares of APA from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a research note on Wednesday, August 19th. Ten analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $42.76.

APA Price Performance

Shares of APA stock opened at $44.73 on Friday. The stock has a 50-day moving average price of $38.99 and a 200 day moving average price of $37.44. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm has a market cap of $15.67 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.78 and a beta of 0.37. APA Corporation has a 12 month low of $21.63 and a 12 month high of $46.10.

APA (NASDAQ:APA - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same quarter in the previous year, the company posted $0.87 earnings per share. Research analysts expect that APA Corporation will post 5.71 EPS for the current year.

About APA

APA Corporation NASDAQ: APA is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates through subsidiaries and manages upstream assets spanning exploration, drilling, production and related field-development activities.

APA's principal producing operations are in the Permian Basin of the United States and in Egypt. The company has also pursued offshore exploration opportunities in Suriname, where it has participated in drilling and appraisal activities in the country's offshore blocks.

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