Wealthfront Advisers LLC bought a new stake in shares of APA Corporation (NASDAQ:APA – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 100,734 shares of the company’s stock, valued at approximately $3,281,000.
Several other hedge funds also recently bought and sold shares of APA. 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 acquiring an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of APA during the first quarter valued at $28,000. Summit Securities Group LLC boosted its stake in shares of APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares during the last quarter. MidFirst Bank acquired a new stake in shares of APA during the second quarter valued at $33,000. Finally, Camelot Portfolios LLC purchased a new stake in APA during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on APA shares. Roth Capital set a $39.00 target price on shares of APA in a research note on Thursday, August 6th. KeyCorp set a $46.00 price target on shares of APA in a research note on Wednesday, August 12th. Sanford C. Bernstein lifted their price target on shares of APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, May 20th. The Goldman Sachs Group lowered their price target on shares of APA from $34.00 to $32.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. Finally, Truist Financial boosted their price objective 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. Ten research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.50.
APA Stock Up 2.2%
Shares of APA opened at $44.39 on Friday. APA Corporation has a fifty-two week low of $19.96 and a fifty-two week high of $45.66. The company’s fifty day moving average is $35.85 and its two-hundred day moving average is $35.74. The firm has a market cap of $15.55 billion, a PE ratio of 9.38 and a beta of 0.35. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47.
APA (NASDAQ:APA – Get Free Report) last announced 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). The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same quarter in the prior year, the company earned $0.87 earnings per share. Analysts forecast that APA Corporation will post 5.27 earnings per share 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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