Quantitative Investment Management LLC Buys New Shares in APA Corporation $APA

Quantitative Investment Management LLC bought a new position in APA Corporation (NASDAQ:APA) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 41,594 shares of the company’s stock, valued at approximately $1,354,000.

A number of other institutional investors have also bought and sold shares of the business. Hollencrest Capital Management lifted its position in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of APA during the first quarter worth about $28,000. Summit Securities Group LLC grew its position 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 worth $32,000 after purchasing an additional 710 shares in the last quarter. MidFirst Bank bought a new stake in APA during the 2nd quarter valued at approximately $33,000. Finally, Compass Financial Management LLC bought a new stake in APA during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on APA. Argus upgraded APA from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, August 19th. Truist Financial lifted their price objective on shares of APA from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Mizuho raised shares of APA to a “strong sell” rating in a report on Friday, July 31st. 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 research report on Friday, June 26th. Finally, Barclays cut their target price on shares of APA from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.50.

APA Trading Up 1.4%

Shares of APA opened at $43.15 on Tuesday. The stock has a market capitalization of $15.12 billion, a PE ratio of 9.12, a P/E/G ratio of 0.77 and a beta of 0.35. The company’s fifty day moving average is $36.98 and its 200 day moving average is $36.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. APA Corporation has a fifty-two week low of $21.57 and a fifty-two week high of $45.66.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the business earned $0.87 EPS. Sell-side analysts expect that APA Corporation will post 5.54 earnings per share for the current fiscal 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.