Two Sigma Securities LLC Makes New $835,000 Investment in APA Corporation $APA

Key Points

• Two Sigma Securities acquired 25,634 APA shares during the second quarter, worth approximately $835,000. Institutional investors collectively own 83.01% of the company.
• Analyst sentiment remains mixed, with nine Buy, 17 Hold, and four Sell ratings; APA has a consensus rating of Hold and an average price target of $41.50.
• APA reported quarterly EPS of $1.89, narrowly below expectations, while revenue of $2.37 billion also missed forecasts. The stock opened at $44.30 and is near its 12-month high of $45.66.

Two Sigma Securities LLC acquired a new position in shares of APA Corporation (NASDAQ:APA - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,634 shares of the company's stock, valued at approximately $835,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 during the last quarter. NewEdge Advisors LLC lifted its position in APA by 49.6% during the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company's stock valued at $227,000 after purchasing an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of APA by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company's stock worth $56,092,000 after buying an additional 806,252 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of APA by 10.6% in the 1st quarter. Focus Partners Wealth now owns 44,833 shares of the company's stock worth $942,000 after buying an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of APA in the 2nd quarter worth about $5,199,000. 83.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of APA from $38.00 to $39.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Susquehanna lifted their price target on APA from $45.00 to $47.00 and gave the stock a "positive" rating in a research report on Tuesday, August 11th. Capital One Financial boosted their price objective on APA from $50.00 to $51.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. Barclays decreased their price objective on APA from $41.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Finally, Raymond James Financial lowered their price objective on APA from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Nine investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, APA presently has a consensus rating of "Hold" and an average target price of $41.50.

APA Price Performance

APA stock opened at $44.30 on Wednesday. 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 firm has a 50-day moving average price of $37.18 and a 200-day moving average price of $36.61. The firm has a market capitalization of $15.52 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 0.78 and a beta of 0.35.

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 the consensus estimate of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. As a group, equities research analysts forecast that APA Corporation will post 5.54 EPS for the current year.

About APA

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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