Bank of Nova Scotia acquired a new stake in APA Corporation (NASDAQ:APA – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,700 shares of the company’s stock, valued at approximately $870,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of APA during the 2nd quarter valued at $1,173,231,000. Arrowstreet Capital Limited Partnership boosted its position in shares of APA by 1,726.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after purchasing an additional 4,569,779 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of APA in the 2nd quarter worth $134,558,000. Goldman Sachs Group Inc. boosted its position in shares of APA by 76.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock worth $175,426,000 after purchasing an additional 3,117,032 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of APA by 157.1% during the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after purchasing an additional 1,869,891 shares during the period. 83.01% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
APA has been the subject of a number of recent analyst reports. Stephens upped their price objective on APA from $43.00 to $47.00 in a report on Wednesday, June 10th. The Goldman Sachs Group reduced their target price on APA from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Tuesday, June 30th. Roth Capital set a $39.00 target price on APA in a research report on Thursday, August 6th. Citigroup upped their price target on APA from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. Finally, Susquehanna increased their price target on shares of APA from $45.00 to $47.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Ten investment 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 Stock Down 0.4%
Shares of APA stock opened at $41.19 on Thursday. The firm has a market cap of $14.43 billion, a PE ratio of 8.71, a P/E/G ratio of 0.75 and a beta of 0.35. The business’s 50 day simple moving average is $36.42 and its 200 day simple moving average is $36.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. APA Corporation has a 52-week low of $21.57 and a 52-week high of $45.66.
APA (NASDAQ:APA – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $0.87 EPS. On average, analysts predict that APA Corporation will post 5.54 earnings per share 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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