Wellington Management Group LLP Sells 15,682 Shares of APA Corporation $APA

Wellington Management Group LLP lessened its holdings in shares of APA Corporation (NASDAQ:APA) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 344,109 shares of the company’s stock after selling 15,682 shares during the quarter. Wellington Management Group LLP’s holdings in APA were worth $11,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kingsview Wealth Management LLC bought a new stake in APA in the second quarter valued at $3,463,000. Beacon Pointe Advisors LLC bought a new position in shares of APA during the second quarter valued at approximately $461,000. Twin Lakes Capital Management LLC purchased a new position in APA during the second quarter valued at $49,000. Rakuten Investment Management Inc. purchased a new position in APA during the second quarter valued at $1,235,000. Finally, Empowered Funds LLC bought a new stake in APA in the second quarter worth $28,433,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

Shares of NASDAQ:APA opened at $42.77 on Tuesday. The stock’s 50-day simple moving average is $38.02 and its two-hundred day simple moving average is $37.07. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.75 and a beta of 0.37. APA Corporation has a 52-week low of $21.57 and a 52-week high of $45.66. 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 (NASDAQ:APA) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period in the previous year, the company earned $0.87 EPS. Analysts expect that APA Corporation will post 5.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on APA shares. KeyCorp set a $46.00 target price on APA in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of APA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 31st. BMO Capital Markets reduced their price objective on shares of APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research note on Wednesday, May 13th. Roth Capital set a $39.00 target price on shares of APA in a report on Thursday, August 6th. Finally, Argus upgraded shares of APA from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, August 19th. Nine investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.07.

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.