Assenagon Asset Management S.A. Reduces Stock Holdings in APA Co. (NASDAQ:APA)

Assenagon Asset Management S.A. lessened its position in shares of APA Co. (NASDAQ:APA) by 92.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,100 shares of the company’s stock after selling 113,498 shares during the period. Assenagon Asset Management S.A.’s holdings in APA were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after acquiring an additional 2,004,555 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of APA by 10.6% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after purchasing an additional 1,938,335 shares in the last quarter. Harris Associates L P raised its position in shares of APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after purchasing an additional 2,367,570 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in APA by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,619,374 shares of the company’s stock valued at $93,983,000 after buying an additional 88,061 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in APA by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock valued at $66,093,000 after buying an additional 345,192 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Performance

NASDAQ APA opened at $28.47 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.16. APA Co. has a 1-year low of $26.81 and a 1-year high of $46.15. The firm has a market capitalization of $10.57 billion, a P/E ratio of 3.18 and a beta of 3.26. The business’s 50-day simple moving average is $29.43 and its 200-day simple moving average is $30.70.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the company posted $0.85 earnings per share. APA’s revenue was up 41.6% compared to the same quarter last year. Equities analysts predict that APA Co. will post 4.17 EPS for the current year.

Analyst Ratings Changes

APA has been the subject of a number of analyst reports. Piper Sandler cut their price target on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Citigroup reduced their target price on shares of APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Truist Financial lifted their price target on shares of APA from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. StockNews.com lowered shares of APA from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, UBS Group decreased their target price on shares of APA from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.27.

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.