VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in APA Corporation $APA

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in APA Corporation (NASDAQ:APA) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 163,500 shares of the company’s stock, valued at approximately $5,325,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management grew 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 buying an additional 500 shares during the period. Cedar Mountain Advisors LLC bought a new stake in APA during the first quarter worth about $28,000. Compass Financial Management LLC purchased a new stake in APA in the second quarter worth about $33,000. MidFirst Bank bought a new position in shares of APA during the second quarter valued at approximately $33,000. Finally, Global Assets Advisory LLC bought a new position in shares of APA during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on APA shares. Benchmark boosted their price target on APA from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $43.00 price objective on shares of APA in a research report on Monday. Truist Financial boosted their target price on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Argus raised APA from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, August 19th. Finally, Barclays cut their target price on APA from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Nine investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $42.07.

APA Price Performance

Shares of APA opened at $43.55 on Wednesday. The company has a market capitalization of $15.26 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 0.75 and a beta of 0.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $38.24 and a 200 day moving average of $37.17. APA Corporation has a twelve month low of $21.57 and a twelve month high of $45.66.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period last year, the company posted $0.87 earnings per share. As a group, equities research analysts anticipate that APA Corporation will post 5.7 earnings per share for the current fiscal year.

APA Company Profile

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.