45,066 Shares in APA Corporation $APA Bought by L2 Asset Management LLC

L2 Asset Management LLC bought a new position in shares of APA Corporation (NASDAQ:APA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 45,066 shares of the company’s stock, valued at approximately $1,468,000.

A number of other hedge funds have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of APA by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after acquiring an additional 2,070 shares in the last quarter. NewEdge Advisors LLC raised its holdings in APA by 49.6% during the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after acquiring an additional 3,578 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after acquiring an additional 806,252 shares in the last quarter. Focus Partners Wealth boosted its position in APA by 10.6% during the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after purchasing an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in APA during the second quarter valued at approximately $5,199,000. Institutional investors own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

APA has been the topic of several recent analyst reports. Raymond James Financial lowered their price target on APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Citigroup increased their price objective on APA from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley decreased their target price on shares of APA from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, June 26th. Truist Financial boosted their target price on shares of APA from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of APA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. 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. According to data from MarketBeat, APA has an average rating of “Hold” and a consensus target price of $41.50.

APA Stock Down 1.0%

APA opened at $42.96 on Tuesday. APA Corporation has a 1-year low of $21.47 and a 1-year high of $45.66. The stock’s fifty day simple moving average is $36.14 and its 200 day simple moving average is $35.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.05 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.78 and a beta of 0.35.

APA (NASDAQ:APA) last announced its quarterly earnings results 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). APA had a net margin of 19.48% and a return on equity of 24.84%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business earned $0.87 EPS. As a group, research analysts expect that APA Corporation will post 5.54 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.