Empirical Finance LLC Purchases 16,056 Shares of APA Corporation $APA

Empirical Finance LLC increased its position in APA Corporation (NASDAQ:APA) by 136.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,793 shares of the company’s stock after buying an additional 16,056 shares during the quarter. Empirical Finance LLC’s holdings in APA were worth $905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Hollencrest Capital Management boosted its position in APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new position in APA in the 1st quarter valued at approximately $28,000. Summit Securities Group LLC raised its stake in shares of APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares during the last quarter. MidFirst Bank bought a new position in shares of APA during the second quarter valued at $33,000. Finally, Compass Financial Management LLC acquired a new position in shares of APA during the second quarter worth $33,000. Institutional investors own 83.01% of the company’s stock.

APA Trading Up 3.0%

NASDAQ:APA opened at $44.84 on Thursday. APA Corporation has a 52 week low of $21.57 and a 52 week high of $45.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s fifty day moving average is $38.49 and its 200-day moving average is $37.28. The firm has a market cap of $15.71 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.76 and a beta of 0.37.

APA (NASDAQ:APA) last announced its 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 the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same period in the prior year, the business earned $0.87 EPS. Equities analysts expect that APA Corporation will post 5.7 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Seaport Research Partners began coverage on shares of APA in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Truist Financial raised their target price on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Roth Capital set a $39.00 target price on APA in a report on Thursday, August 6th. Benchmark upped their price target on APA from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings cut APA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 31st. Nine investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.76.

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.