Focus Partners Wealth Cuts Holdings in APA Co. (NASDAQ:APA)

Focus Partners Wealth cut its position in shares of APA Co. (NASDAQ:APA) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,536 shares of the company’s stock after selling 646 shares during the quarter. Focus Partners Wealth’s holdings in APA were worth $936,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in APA. Dimensional Fund Advisors LP raised its position in APA by 33.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company’s stock worth $142,823,000 after acquiring an additional 1,540,055 shares during the period. Freestone Grove Partners LP bought a new stake in APA in the fourth quarter worth about $30,767,000. Bank of New York Mellon Corp raised its position in APA by 29.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock worth $94,500,000 after acquiring an additional 929,770 shares during the period. Charles Schwab Investment Management Inc. raised its position in APA by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock worth $297,540,000 after acquiring an additional 894,574 shares during the period. Finally, Invesco Ltd. raised its position in APA by 6.9% in the fourth quarter. Invesco Ltd. now owns 13,230,751 shares of the company’s stock worth $305,498,000 after acquiring an additional 850,052 shares during the period. Institutional investors own 83.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James lowered shares of APA from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $45.00 to $32.00 in a research report on Monday, March 10th. Citigroup lowered their price target on shares of APA from $20.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Mizuho lowered their price target on shares of APA from $20.00 to $19.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 13th. Scotiabank lowered their price target on shares of APA from $26.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $23.00 price target on shares of APA in a research report on Wednesday, March 19th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.37.

APA Trading Down 1.0%

APA stock opened at $17.59 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA Co. has a twelve month low of $13.58 and a twelve month high of $33.41. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 2.48 and a beta of 1.18. The firm’s fifty day simple moving average is $17.51 and its two-hundred day simple moving average is $20.69.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.23. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.17 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. The business’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, analysts anticipate that APA Co. will post 4.03 earnings per share for the current year.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.