467,081 Shares in APA Corporation $APA Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of APA Corporation (NASDAQ:APA) in the 2nd quarter, Holdings Channel reports. The firm purchased 467,081 shares of the company’s stock, valued at approximately $15,212,000.

Several other hedge funds also recently modified their holdings of APA. Altshuler Shaham Ltd increased its holdings in shares of APA by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after acquiring an additional 330 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in APA by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after purchasing an additional 375 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of APA by 1.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock valued at $689,000 after buying an additional 396 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of APA by 37.9% during the 2nd quarter. Fortitude Family Office LLC now owns 1,489 shares of the company’s stock valued at $48,000 after acquiring an additional 409 shares during the period. Finally, IRON Financial LLC lifted its position in APA by 7.2% during the second quarter. IRON Financial LLC now owns 7,279 shares of the company’s stock worth $237,000 after purchasing an additional 490 shares during the period. Institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Capital One Financial raised their price objective on APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Truist Financial increased their price objective on APA from $38.00 to $39.00 and gave the company a “hold” rating in a report on Monday, August 10th. Susquehanna raised their price target on shares of APA from $45.00 to $47.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. The Goldman Sachs Group dropped their price objective on APA from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Tuesday, June 30th. Finally, Sanford C. Bernstein increased their target price on shares of APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 20th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, APA has an average rating of “Hold” and a consensus price target of $41.50.

APA Stock Performance

NASDAQ APA opened at $44.39 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $15.55 billion, a PE ratio of 9.38 and a beta of 0.35. The company has a 50-day simple moving average of $35.85 and a 200 day simple moving average of $35.74. APA Corporation has a 52-week low of $19.96 and a 52-week high of $45.66.

APA (NASDAQ:APA) last posted its 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 business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business earned $0.87 EPS. On average, research analysts predict that APA Corporation will post 5.27 EPS 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.