Wedmont Private Capital raised its position in APA Corporation (NASDAQ:APA – Free Report) by 180.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 27,350 shares of the company’s stock after buying an additional 17,599 shares during the quarter. Wedmont Private Capital’s holdings in APA were worth $915,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management grew its stake in shares of APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new position in APA during the first quarter worth $28,000. Compass Financial Management LLC acquired a new position in APA during the second quarter worth $33,000. MidFirst Bank bought a new position in APA in the second quarter valued at $33,000. Finally, Global Assets Advisory LLC bought a new position in APA in the first quarter valued at $44,000. Institutional investors and hedge funds own 83.01% of the company’s stock.
Wall Street Analyst Weigh In
APA has been the topic of several analyst reports. The Goldman Sachs Group reissued a “sell” rating and set a $43.00 price target on shares of APA in a research report on Monday. Sanford C. Bernstein raised their price objective on APA from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, May 20th. Truist Financial lifted their target price on APA from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Susquehanna upped their target price on APA from $45.00 to $47.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. Finally, Mizuho raised APA to a “strong sell” rating in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.07.
APA Stock Up 1.8%
APA stock opened at $43.55 on Wednesday. The firm has a market capitalization of $15.26 billion, a PE ratio of 9.21, a P/E/G ratio of 0.75 and a beta of 0.37. The company’s 50-day moving average is $38.24 and its 200-day moving average is $37.17. APA Corporation has a fifty-two week low of $21.57 and a fifty-two week high of $45.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95.
APA (NASDAQ:APA – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (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 during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business posted $0.87 earnings per share. Sell-side analysts anticipate that APA Corporation will post 5.7 earnings per share for the current year.
APA Company Profile
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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