Sanctuary Advisors LLC Buys Shares of 22,791 APA Corporation $APA

Sanctuary Advisors LLC purchased a new position in APA Corporation (NASDAQ:APA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,791 shares of the company’s stock, valued at approximately $742,000.

Other large investors have also made changes to their positions in the company. Hollencrest Capital Management boosted its position in shares of APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new position in APA during the 1st quarter valued at about $28,000. Summit Securities Group LLC increased its position in APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after buying an additional 710 shares in the last quarter. MidFirst Bank purchased a new stake in APA in the second quarter valued at about $33,000. Finally, Compass Financial Management LLC purchased a new stake in APA in the second quarter valued at about $33,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on APA shares. Truist Financial raised their price target on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Raymond James Financial decreased their price objective on shares of APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. The Goldman Sachs Group lowered their target price on shares of APA from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Tuesday, June 30th. Citigroup boosted their target price on shares of APA from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Finally, Morgan Stanley cut their price target on shares of APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, June 26th. Ten equities research 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. Based on data from MarketBeat.com, APA has an average rating of “Hold” and a consensus price target of $41.50.

APA Stock Up 0.4%

Shares of APA stock opened at $42.54 on Friday. APA Corporation has a fifty-two week low of $21.57 and a fifty-two week high of $45.66. The firm has a market capitalization of $14.90 billion, a PE ratio of 8.99, a P/E/G ratio of 0.77 and a beta of 0.35. 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 stock’s 50-day simple moving average is $36.80 and its 200-day simple moving average is $36.33.

APA (NASDAQ:APA) last released its earnings results on Wednesday, August 5th. The company reported $1.89 EPS 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 analyst estimates of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same period last year, the firm earned $0.87 EPS. Equities analysts expect that APA Corporation will post 5.54 earnings per share for the current year.

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.