Ameritas Investment Partners Inc. Trims Position in APA Co. (NASDAQ:APA)

Ameritas Investment Partners Inc. decreased its position in shares of APA Co. (NASDAQ:APA) by 14.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,270 shares of the company’s stock after selling 865 shares during the period. Ameritas Investment Partners Inc.’s holdings in APA were worth $114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nuveen Asset Management LLC increased its position in APA by 1.2% during the first quarter. Nuveen Asset Management LLC now owns 1,365,552 shares of the company’s stock worth $24,443,000 after purchasing an additional 16,637 shares during the last quarter. Mariner LLC increased its position in APA by 79.5% during the first quarter. Mariner LLC now owns 60,483 shares of the company’s stock worth $1,083,000 after purchasing an additional 26,794 shares during the last quarter. Royal Bank of Canada increased its position in APA by 23.7% during the first quarter. Royal Bank of Canada now owns 375,845 shares of the company’s stock worth $6,727,000 after purchasing an additional 71,980 shares during the last quarter. Prudential Financial Inc. increased its position in APA by 23.6% during the first quarter. Prudential Financial Inc. now owns 330,758 shares of the company’s stock worth $5,920,000 after purchasing an additional 63,196 shares during the last quarter. Finally, Profund Advisors LLC increased its position in APA by 26.3% during the first quarter. Profund Advisors LLC now owns 20,226 shares of the company’s stock worth $362,000 after purchasing an additional 4,211 shares during the last quarter. 82.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of APA stock opened at $19.35 on Wednesday. The company has a market capitalization of $7.31 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 0.50 and a beta of 4.94. The firm has a fifty day simple moving average of $18.59 and a 200-day simple moving average of $19.79. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 110.79. APA Co. has a twelve month low of $7.45 and a twelve month high of $24.30.

APA (NASDAQ:APA) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.13. APA had a net margin of 11.43% and a negative return on equity of 145.33%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm posted ($0.74) EPS. The firm’s revenue was up 137.0% compared to the same quarter last year. Equities research analysts predict that APA Co. will post 3.2 EPS for the current year.

In other APA news, Director Chansoo Joung sold 20,000 shares of the stock in a transaction on Tuesday, August 10th. The shares were sold at an average price of $19.06, for a total transaction of $381,200.00. Following the transaction, the director now directly owns 25,285 shares in the company, valued at approximately $481,932.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Several equities research analysts have recently issued reports on APA shares. KeyCorp dropped their price objective on shares of APA from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, July 21st. Truist dropped their price objective on shares of APA from $24.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, July 20th. Capital One Financial reissued an “overweight” rating on shares of APA in a research report on Wednesday, May 26th. Sanford C. Bernstein raised shares of APA from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $23.00 to $35.00 in a research report on Monday, June 21st. Finally, JPMorgan Chase & Co. lowered shares of APA from an “overweight” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Friday, June 25th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $24.97.

APA Profile

APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. The company was founded in 1954 and is headquartered in Houston, TX.

Further Reading: Institutional Investors

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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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