Madison Asset Management LLC purchased a new stake in APA Corporation (NASDAQ:APA – Free Report) in the second quarter, Holdings Channel.com reports. The fund purchased 328,600 shares of the company’s stock, valued at approximately $10,703,000.
Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in APA during the second quarter worth about $1,173,231,000. Dimensional Fund Advisors LP grew its position in APA by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company’s stock worth $695,099,000 after buying an additional 1,055,016 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in APA by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,710,034 shares of the company’s stock valued at $359,807,000 after buying an additional 285,542 shares in the last quarter. Morgan Stanley increased its holdings in APA by 21.8% in the fourth quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock valued at $255,010,000 after buying an additional 1,864,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of APA by 76.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after acquiring an additional 3,117,032 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.
APA Stock Up 2.5%
Shares of NASDAQ APA opened at $43.45 on Thursday. The firm’s 50-day moving average is $35.69 and its two-hundred day moving average is $35.61. The company has a market capitalization of $15.22 billion, a PE ratio of 9.19 and a beta of 0.35. APA Corporation has a 12-month low of $19.96 and a 12-month 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.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Barclays decreased their price target on APA from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup reaffirmed a “neutral” rating on shares of APA in a research note on Tuesday, July 21st. Benchmark lifted their price objective on APA from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Truist Financial boosted their target price on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Finally, Zacks Research lowered APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, APA currently has a consensus rating of “Hold” and a consensus target price of $41.50.
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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