Arizona State Retirement System Raises Stake in APA Co. (NASDAQ:APA)

Arizona State Retirement System boosted its holdings in APA Co. (NASDAQ:APA) by 22.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,755 shares of the company’s stock after purchasing an additional 18,400 shares during the quarter. Arizona State Retirement System’s holdings in APA were worth $2,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after buying an additional 2,004,555 shares during the last quarter. Wealthquest Corp boosted its holdings in APA by 21.7% in the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock worth $5,533,000 after acquiring an additional 27,513 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of APA by 23.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock worth $66,093,000 after acquiring an additional 345,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after acquiring an additional 1,938,335 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its position in shares of APA by 18.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock worth $1,673,000 after purchasing an additional 7,580 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Down 1.3 %

Shares of APA stock opened at $24.92 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. APA Co. has a 12 month low of $24.77 and a 12 month high of $44.74. The stock has a market cap of $9.22 billion, a P/E ratio of 2.79 and a beta of 3.24. The company has a 50 day simple moving average of $29.15 and a two-hundred day simple moving average of $30.44.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s revenue was up 41.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. On average, research analysts expect that APA Co. will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler cut their price objective on shares of APA from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price target on shares of APA in a research report on Thursday, September 5th. Citigroup decreased their price objective on shares of APA from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. Susquehanna cut their target price on APA from $57.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Scotiabank decreased their price target on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.76.

APA 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.