United Capital Financial Advisors LLC Purchases New Holdings in APA Corporation $APA

Key Points

• United Capital Financial Advisors acquired 48,041 APA shares worth approximately $1.565 million during the second quarter. Institutional investors collectively own 83.01% of the company.
• Analyst sentiment remains mixed: 10 analysts rate APA a Buy, 16 a Hold and four a Sell, resulting in an overall Hold rating and an average price target of $41.50.
• APA shares opened at $42.54, near their 52-week high of $45.66. The company slightly missed quarterly estimates, reporting $1.89 in EPS versus $1.90 expected and revenue of $2.37 billion versus $2.46 billion forecast.

United Capital Financial Advisors LLC acquired a new position in APA Corporation (NASDAQ:APA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,041 shares of the company's stock, valued at approximately $1,565,000.

Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management raised its holdings in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company's stock worth $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC bought a new position in APA in the 1st quarter valued at $28,000. Summit Securities Group LLC increased its stake in APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company's stock worth $32,000 after purchasing an additional 710 shares during the period. MidFirst Bank bought a new stake in shares of APA during the second quarter worth $33,000. Finally, Compass Financial Management LLC bought a new stake in shares of APA during the second quarter worth $33,000. Institutional investors own 83.01% of the company's stock.

Analyst Ratings Changes

APA has been the topic of a number of research analyst reports. Benchmark upped their price target on shares of APA from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. The Goldman Sachs Group lowered their price objective on shares of APA from $34.00 to $32.00 and set a "sell" rating for the company in a research report on Tuesday, June 30th. Raymond James Financial reduced their target price on shares of APA from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. Susquehanna lifted their price target on shares of APA from $45.00 to $47.00 and gave the company a "positive" rating in a research note on Tuesday, August 11th. Finally, Barclays lowered their price target on APA from $41.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $41.50.

APA Trading Up 0.4%

NASDAQ:APA opened at $42.54 on Friday. APA Corporation has a one year low of $21.57 and a one year high of $45.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $14.90 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.77 and a beta of 0.35. The firm has a 50-day simple moving average of $36.80 and a 200-day simple moving average of $36.33.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data 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 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 in the prior year, the business posted $0.87 earnings per share. Equities analysts anticipate that APA Corporation will post 5.54 EPS for the current fiscal 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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