258,288 Shares in APA Corporation $APA Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in APA Corporation (NASDAQ:APA) during the second quarter, Holdings Channel.com reports. The fund acquired 258,288 shares of the company’s stock, valued at approximately $8,412,000.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of APA in the 2nd quarter valued at $1,173,231,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of APA by 1,726.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after buying an additional 4,569,779 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of APA during the 2nd quarter worth $134,558,000. Goldman Sachs Group Inc. raised its holdings 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 worth $175,426,000 after buying an additional 3,117,032 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of APA by 157.1% during the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after buying an additional 1,869,891 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Performance

NASDAQ APA opened at $42.54 on Monday. The stock has a market capitalization of $14.90 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.77 and a beta of 0.35. APA Corporation has a one year low of $21.57 and a one year 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. The business has a 50 day simple moving average of $36.80 and a 200 day simple moving average of $36.39.

APA (NASDAQ:APA) last released its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. Research analysts expect that APA Corporation will post 5.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on APA. BMO Capital Markets reduced their price objective on APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley dropped their target price on shares of APA from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, June 26th. Capital One Financial lifted their price target on shares of APA from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Roth Capital set a $39.00 price objective on shares of APA in a research note on Thursday, August 6th. Finally, Argus upgraded shares of APA from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, August 19th. Ten analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, APA currently has a consensus rating of “Hold” and a consensus price target of $41.50.

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.