Harvest Portfolios Group Inc. Purchases 22,100 Shares of APA Corporation $APA

Harvest Portfolios Group Inc. boosted its position in APA Corporation (NASDAQ:APA) by 38.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,050 shares of the company’s stock after purchasing an additional 22,100 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in APA were worth $1,958,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in shares of APA by 20.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock worth $4,723,000 after acquiring an additional 32,357 shares during the last quarter. Paradigm Capital Management LLC NV grew its stake in shares of APA by 17.9% in the fourth quarter. Paradigm Capital Management LLC NV now owns 18,425 shares of the company’s stock worth $451,000 after acquiring an additional 2,800 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of APA by 1.1% in the fourth quarter. ProShare Advisors LLC now owns 123,178 shares of the company’s stock worth $3,013,000 after acquiring an additional 1,293 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of APA by 13.1% in the fourth quarter. HighTower Advisors LLC now owns 514,390 shares of the company’s stock worth $12,582,000 after acquiring an additional 59,641 shares during the last quarter. Finally, Pacific Heights Asset Management LLC grew its stake in shares of APA by 29.4% in the fourth quarter. Pacific Heights Asset Management LLC now owns 550,000 shares of the company’s stock worth $13,453,000 after acquiring an additional 125,000 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on APA. Susquehanna increased their target price on APA from $37.00 to $47.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Barclays raised APA from an “underweight” rating to an “equal weight” rating and set a $35.00 target price on the stock in a research note on Monday, March 23rd. Roth Mkm increased their target price on APA from $27.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Stephens increased their target price on APA from $24.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company increased their target price on APA from $21.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, APA has an average rating of “Hold” and an average price target of $40.08.

APA Trading Down 3.9%

APA stock opened at $39.32 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. APA Corporation has a one year low of $16.15 and a one year high of $45.66. The stock has a market capitalization of $13.90 billion, a PE ratio of 9.17 and a beta of 0.38. The business’s fifty day moving average is $38.62 and its 200 day moving average is $30.45.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $1.06 earnings per share. APA’s revenue was down 11.7% compared to the same quarter last year. On average, sell-side analysts predict that APA Corporation will post 5.2 EPS for the current year.

Key Headlines Impacting APA

Here are the key news stories impacting APA this week:

• Positive Sentiment: APA Corporation declared a regular cash dividend on its common shares, which can support investor confidence and income-focused demand. APA Corporation Declares Cash Dividend on Common Shares
• Positive Sentiment: Zacks Research raised earnings estimates for APA across multiple future periods and kept a Strong-Buy rating, signaling improved profit expectations.
• Positive Sentiment: Sanford C. Bernstein lifted its price target on APA to $40 from $37, reflecting a modestly improved valuation view even though the firm kept a Market Perform rating. APA price target raised by Sanford C. Bernstein
• Negative Sentiment: Goldman Sachs raised its price target to $34 but maintained a Sell rating, suggesting continued concern about downside risk. Goldman Sachs price target raised on APA

Insider Activity at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the sale, the director directly owned 6,634 shares of the company’s stock, valued at $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by company insiders.

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.