Ieq Capital LLC Purchases New Stake in APA Corporation $APA

Ieq Capital LLC acquired a new position in shares of APA Corporation (NASDAQ:APA) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 47,245 shares of the company’s stock, valued at approximately $1,539,000.

Other large investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in APA by 85.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock worth $1,976,000 after buying an additional 37,180 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in APA by 20.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock valued at $4,723,000 after buying an additional 32,357 shares in the last quarter. Prudential PLC lifted its position in shares of APA by 753.2% during the 4th quarter. Prudential PLC now owns 136,744 shares of the company’s stock valued at $3,345,000 after acquiring an additional 120,717 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of APA during the 4th quarter valued at approximately $19,968,000. Finally, Hoertkorn Richard Charles purchased a new stake in shares of APA during the 1st quarter worth approximately $2,429,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on APA shares. Mizuho raised APA to a “strong sell” rating in a research note on Friday, July 31st. Truist Financial upped their target price on APA from $38.00 to $39.00 and gave the company a “hold” rating in a report on Monday, August 10th. BMO Capital Markets dropped their price target on APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research report on Wednesday, May 13th. Susquehanna lifted their price target on APA from $45.00 to $47.00 and gave the stock a “positive” rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company lifted their price target on APA from $39.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, APA has a consensus rating of “Hold” and an average target price of $41.50.

APA Price Performance

APA stock opened at $41.19 on Thursday. The stock’s 50 day moving average price is $36.42 and its 200 day moving average price is $36.18. The firm has a market cap of $14.43 billion, a P/E ratio of 8.71, a PEG ratio of 0.75 and a beta of 0.35. 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 1 year low of $21.57 and a 1 year high of $45.66.

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