Corient Private Wealth LP Makes New $6.32 Million Investment in APA Corporation $APA

Corient Private Wealth LP acquired a new position in shares of APA Corporation (NASDAQ:APA) in the second quarter, HoldingsChannel reports. The institutional investor acquired 193,870 shares of the company’s stock, valued at approximately $6,318,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in shares of 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. grew its stake in shares of 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 acquiring an additional 32,357 shares in the last quarter. Prudential PLC increased its position in APA by 753.2% during the fourth quarter. Prudential PLC now owns 136,744 shares of the company’s stock worth $3,345,000 after acquiring an additional 120,717 shares during the period. Hoertkorn Richard Charles bought a new position in APA during the first quarter worth about $2,429,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in APA in the 4th quarter worth about $19,968,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

APA opened at $42.54 on Monday. The stock has a market capitalization of $14.90 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 0.77 and a beta of 0.35. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. APA Corporation has a twelve month low of $21.57 and a twelve month high of $45.66. The company has a 50-day simple moving average of $36.80 and a 200 day simple moving average of $36.39.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) 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 business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the business earned $0.87 EPS. Analysts predict that APA Corporation will post 5.54 EPS for the current fiscal year.

Analysts Set New Price Targets

APA has been the subject of a number of recent research reports. Barclays cut their price objective on shares of APA from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Capital One Financial lifted their price target on shares of APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded APA from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. The Goldman Sachs Group cut their price target on APA from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Tuesday, June 30th. Finally, Wells Fargo & Company increased their price target on APA from $39.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Ten 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.50.

APA Company 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.