Harvest Portfolios Group Inc. Increases Stock Holdings in APA Corporation $APA

Harvest Portfolios Group Inc. boosted its position in APA Corporation (NASDAQ:APA) by 38.1% during the 4th quarter, HoldingsChannel reports. The firm owned 80,050 shares of the company’s stock after purchasing an additional 22,100 shares during the period. Harvest Portfolios Group Inc.’s holdings in APA were worth $1,958,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in APA by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock worth $700,000 after purchasing an additional 2,070 shares during the last quarter. NewEdge Advisors LLC boosted its position in APA by 49.6% in the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after purchasing an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in APA by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after purchasing an additional 806,252 shares during the last quarter. Focus Partners Wealth boosted its position in APA by 10.6% in the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock worth $942,000 after purchasing an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in APA in the second quarter worth about $5,199,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting APA

Here are the key news stories impacting APA this week:

• Positive Sentiment: APA Corporation declared a regular cash dividend on its common shares, which can support investor confidence and income-focused demand. APA Corporation Declares Cash Dividend on Common Shares
• Positive Sentiment: Zacks Research raised earnings estimates for APA across multiple future periods and kept a Strong-Buy rating, signaling improved profit expectations.
• Positive Sentiment: Sanford C. Bernstein lifted its price target on APA to $40 from $37, reflecting a modestly improved valuation view even though the firm kept a Market Perform rating. APA price target raised by Sanford C. Bernstein
• Negative Sentiment: Goldman Sachs raised its price target to $34 but maintained a Sell rating, suggesting continued concern about downside risk. Goldman Sachs price target raised on APA

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on APA. UBS Group raised their target price on APA from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Weiss Ratings raised APA from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Stephens raised their price objective on APA from $24.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 31st. Truist Financial raised their price objective on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 20th. Finally, TD Cowen raised APA to a “hold” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, APA presently has an average rating of “Hold” and an average price target of $40.08.

Insider Transactions at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the sale, the director owned 6,634 shares of the company’s stock, valued at approximately $240,349.82. This trade represents a 77.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

APA Stock Down 3.9%

NASDAQ APA opened at $39.32 on Thursday. The stock’s 50-day moving average price is $38.62 and its 200-day moving average price is $30.45. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. APA Corporation has a 52 week low of $16.15 and a 52 week high of $45.66. The company has a market capitalization of $13.90 billion, a P/E ratio of 9.17 and a beta of 0.38.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.27. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the company earned $1.06 EPS. On average, equities research analysts predict that APA Corporation will post 5.2 earnings per share for the current year.

APA 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.