Hsbc Holdings PLC Purchases Shares of 454,353 APA Corporation $APA

Hsbc Holdings PLC acquired a new position in shares of APA Corporation (NASDAQ:APA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 454,353 shares of the company’s stock, valued at approximately $14,830,000. Hsbc Holdings PLC owned approximately 0.13% of APA at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Thrivent Financial for Lutherans increased its position 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 purchasing an additional 37,180 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in APA by 20.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock worth $4,723,000 after buying an additional 32,357 shares during 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 buying an additional 120,717 shares during the period. Hoertkorn Richard Charles purchased a new stake in APA in the first quarter valued at approximately $2,429,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of APA in the fourth quarter valued at approximately $19,968,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

APA has been the topic of a number of recent research reports. Raymond James Financial cut their target price on shares of APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Citigroup increased their target price on shares of APA from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Zacks Research cut APA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group reduced their price objective 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, Wall Street Zen upgraded APA from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Ten 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $41.50.

APA Price Performance

Shares of NASDAQ:APA opened at $42.38 on Friday. The business’s 50 day simple moving average is $36.61 and its 200-day simple moving average is $36.28. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 0.74 and a beta of 0.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. APA Corporation has a 12 month low of $21.57 and a 12 month high of $45.66.

APA (NASDAQ:APA) last released its quarterly earnings data 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). The firm had revenue of $2.37 billion during 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 business earned $0.87 earnings per share. As a group, equities analysts forecast that APA Corporation will post 5.54 earnings per share for the current fiscal year.

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.