HighTower Advisors LLC Cuts Position in APA Corporation $APA

HighTower Advisors LLC decreased its holdings in APA Corporation (NASDAQ:APA) by 47.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,896 shares of the company’s stock after selling 179,725 shares during the quarter. HighTower Advisors LLC’s holdings in APA were worth $6,543,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 valued at $700,000 after purchasing an additional 2,070 shares during the period. NewEdge Advisors LLC raised its stake in shares of APA by 49.6% during the 1st quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after buying an additional 3,578 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of APA by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after buying an additional 806,252 shares during the period. Focus Partners Wealth lifted its position in shares of APA by 10.6% during the 1st quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after buying an additional 4,297 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of APA during the 2nd quarter valued at approximately $5,199,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on APA shares. Susquehanna lifted their price target on shares of APA from $45.00 to $47.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Roth Capital set a $39.00 price objective on shares of APA in a research report on Thursday, August 6th. Mizuho raised shares of APA to a “strong sell” rating in a report on Friday, July 31st. Citigroup lifted their target price on shares of APA from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen raised shares of APA from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Ten investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $42.76.

APA Trading Down 0.7%

Shares of APA stock opened at $44.53 on Friday. APA Corporation has a fifty-two week low of $21.63 and a fifty-two week high of $46.10. 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 fifty day moving average is $38.74 and its two-hundred day moving average is $37.39. The firm has a market capitalization of $15.60 billion, a P/E ratio of 9.41, a PEG ratio of 0.79 and a beta of 0.37.

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). The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.87 EPS. Research analysts expect that APA Corporation will post 5.7 earnings per share for the current fiscal year.

About APA

APA Corporation (NASDAQ: APA) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates through subsidiaries and manages upstream assets spanning exploration, drilling, production and related field-development activities.

APA’s principal producing operations are in the Permian Basin of the United States and in Egypt. The company has also pursued offshore exploration opportunities in Suriname, where it has participated in drilling and appraisal activities in the country’s offshore blocks.