Meeder Asset Management Inc. Makes New Investment in APA Corporation $APA

Meeder Asset Management Inc. acquired a new stake in APA Corporation (NASDAQ:APA) in the 2nd quarter, HoldingsChannel reports. The fund acquired 25,849 shares of the company’s stock, valued at approximately $842,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on APA shares. Benchmark upped their price objective on shares of APA from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. 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. UBS Group dropped their price objective on APA from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Raymond James Financial cut their price objective on APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Mizuho raised APA to a “strong sell” rating in a research note on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.26.

APA Stock Performance

NASDAQ APA opened at $42.37 on Wednesday. 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 1-year low of $19.96 and a 1-year high of $45.66. The company has a market cap of $14.84 billion, a PE ratio of 8.96 and a beta of 0.35. The stock’s 50 day simple moving average is $35.58 and its 200-day simple moving average is $35.49.

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 firm 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 posted $0.87 EPS. As a group, equities research analysts anticipate that APA Corporation will post 5.25 EPS for the current fiscal year.

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.