Paradigm Capital Management LLC NV Invests $403,000 in APA Corporation $APA

Paradigm Capital Management LLC NV acquired a new position in shares of APA Corporation (NASDAQ:APA) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 12,375 shares of the company’s stock, valued at approximately $403,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APA. L2 Asset Management LLC purchased a new stake in APA during the second quarter valued at approximately $1,468,000. Patient Capital Management LLC purchased a new position in APA in the second quarter worth $1,628,000. Cibc World Market Inc. purchased a new position in APA in the second quarter worth $1,602,000. OMERS ADMINISTRATION Corp acquired a new position in shares of APA during the second quarter worth $2,990,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of APA during the second quarter worth $742,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Down 1.0%

NASDAQ:APA opened at $42.96 on Tuesday. APA Corporation has a 12 month low of $21.47 and a 12 month high of $45.66. The firm has a fifty day simple moving average of $36.14 and a 200-day simple moving average of $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 company has a market capitalization of $15.05 billion, a P/E ratio of 9.08, a PEG ratio of 0.78 and a beta of 0.35.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm earned $0.87 earnings per share. On average, equities research analysts anticipate that APA Corporation will post 5.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on APA shares. Benchmark raised their price objective on APA from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Susquehanna upped their target price on APA from $45.00 to $47.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Raymond James Financial decreased their price target on APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Truist Financial raised their price target on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Finally, Roth Capital set a $39.00 price target on APA in a report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.50.

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.