APA Corporation $APA Shares Acquired by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC grew its holdings in APA Corporation (NASDAQ:APA) by 29.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 550,000 shares of the company’s stock after buying an additional 125,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in APA were worth $13,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. United Capital Management of KS Inc. acquired a new position in APA in the 3rd quarter valued at $1,214,000. Jackson Creek Investment Advisors LLC purchased a new position in shares of APA during the 3rd quarter worth $2,337,000. Allspring Global Investments Holdings LLC lifted its stake in shares of APA by 57.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 306,195 shares of the company’s stock worth $7,765,000 after purchasing an additional 111,777 shares during the period. AE Wealth Management LLC lifted its stake in shares of APA by 2,049.4% during the 3rd quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock worth $9,797,000 after purchasing an additional 384,738 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of APA by 71.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 185,818 shares of the company’s stock worth $4,437,000 after purchasing an additional 77,125 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on APA shares. Wall Street Zen raised APA from a “hold” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets reduced their price target on APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 13th. Capital One Financial increased their price target on APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. TD Cowen raised APA to a “hold” rating in a research note on Monday, February 9th. Finally, Benchmark increased their price target on APA from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.81.

Insider Buying and Selling at APA

In other APA news, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the transaction, the director owned 6,634 shares in the company, valued at $240,349.82. This trade represents a 77.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by company insiders.

APA Price Performance

Shares of APA opened at $38.98 on Monday. The firm has a market cap of $13.78 billion, a PE ratio of 9.09 and a beta of 0.38. The company’s fifty day moving average is $38.17 and its two-hundred day moving average is $30.08. APA Corporation has a fifty-two week low of $16.15 and a fifty-two week high of $45.66. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. APA’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the business earned $1.06 EPS. Analysts forecast that APA Corporation will post 5.2 earnings per share for the current year.

APA 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.