Marco Investment Management LLC Sells 1,794 Shares of APA Co. (NASDAQ:APA)

Marco Investment Management LLC lessened its holdings in APA Co. (NASDAQ:APA) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,198 shares of the company’s stock after selling 1,794 shares during the period. Marco Investment Management LLC’s holdings in APA were worth $1,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. lifted its holdings in shares of APA by 33.1% during the second quarter. Daiwa Securities Group Inc. now owns 39,809 shares of the company’s stock valued at $1,172,000 after acquiring an additional 9,898 shares during the period. Royal London Asset Management Ltd. lifted its holdings in APA by 45.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 67,871 shares of the company’s stock valued at $1,998,000 after purchasing an additional 21,300 shares during the last quarter. LSV Asset Management boosted its position in APA by 4.9% in the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock valued at $81,193,000 after buying an additional 129,841 shares in the last quarter. Ellis Investment Partners LLC acquired a new position in APA in the second quarter valued at about $2,499,000. Finally, Caprock Group LLC bought a new stake in APA during the second quarter worth about $310,000. Institutional investors own 83.01% of the company’s stock.

APA Stock Down 4.3 %

Shares of APA stock opened at $23.85 on Wednesday. APA Co. has a 12 month low of $23.40 and a 12 month high of $44.74. The business has a fifty day simple moving average of $29.04 and a 200 day simple moving average of $30.40. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market cap of $8.82 billion, a PE ratio of 2.67 and a beta of 3.24.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 EPS. Research analysts predict that APA Co. will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APA. Evercore ISI downgraded APA from an “outperform” rating to an “inline” rating and reduced their target price for the stock from $52.00 to $39.00 in a report on Friday, June 14th. Bank of America reissued an “underperform” rating and issued a $31.00 price objective on shares of APA in a research note on Friday, June 14th. Wolfe Research started coverage on APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price on the stock. Citigroup cut their price target on APA from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. Finally, Truist Financial increased their price objective on shares of APA from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.76.

APA Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.