APA (NASDAQ:APA) Stock Price Down 4.5%

APA Co. (NASDAQ:APAGet Rating) fell 4.5% during trading on Wednesday . The stock traded as low as $36.03 and last traded at $36.12. 51,188 shares were traded during trading, a decline of 99% from the average session volume of 7,478,178 shares. The stock had previously closed at $37.82.

Analysts Set New Price Targets

APA has been the subject of a number of analyst reports. StockNews.com lowered shares of APA from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 13th. Bank of America reduced their price target on shares of APA from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, July 19th. Piper Sandler lowered their price objective on APA from $54.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, July 22nd. Susquehanna reduced their price objective on shares of APA from $52.00 to $49.00 and set a “positive” rating on the stock in a report on Friday, August 5th. Finally, Susquehanna Bancshares decreased their price objective on shares of APA from $52.00 to $49.00 and set a “positive” rating on the stock in a report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.13.

APA Stock Performance

The company has a market cap of $12.06 billion, a P/E ratio of 4.15, a PEG ratio of 0.15 and a beta of 3.81. The company has a debt-to-equity ratio of 3.43, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a fifty day moving average price of $35.48 and a two-hundred day moving average price of $38.57.

APA (NASDAQ:APAGet Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $2.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.37. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.77 billion. APA had a net margin of 32.57% and a return on equity of 622.55%. On average, equities analysts forecast that APA Co. will post 9.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On APA

A number of institutional investors have recently modified their holdings of the company. Amundi lifted its position in shares of APA by 324.3% during the 2nd quarter. Amundi now owns 1,737,234 shares of the company’s stock worth $54,860,000 after buying an additional 1,327,766 shares during the period. Intersect Capital LLC increased its position in APA by 49.9% in the second quarter. Intersect Capital LLC now owns 47,630 shares of the company’s stock worth $1,662,000 after purchasing an additional 15,857 shares during the period. Verition Fund Management LLC grew its holdings in APA by 114.3% during the 2nd quarter. Verition Fund Management LLC now owns 49,849 shares of the company’s stock worth $1,740,000 after acquiring an additional 26,593 shares during the period. Prelude Capital Management LLC lifted its stake in APA by 3.2% in the second quarter. Prelude Capital Management LLC now owns 30,765 shares of the company’s stock valued at $1,074,000 after buying an additional 958 shares during the period. Finally, Legal & General Group Plc boosted its stake in APA by 175.7% during the 2nd quarter. Legal & General Group Plc now owns 1,574,810 shares of the company’s stock worth $54,961,000 after acquiring an additional 1,003,586 shares during the last quarter. Institutional investors own 83.36% of the company’s stock.

APA Company Profile

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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