APA Co. (NASDAQ:APA) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of APA Co. (NASDAQ:APA) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,692 shares of the company’s stock after acquiring an additional 1,122 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in APA were worth $992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunpointe LLC grew its position in APA by 2.8% during the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after purchasing an additional 362 shares during the last quarter. GAMMA Investing LLC increased its position in shares of APA by 12.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after acquiring an additional 380 shares during the period. Stephens Inc. AR raised its stake in APA by 0.9% in the 4th quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock worth $1,775,000 after acquiring an additional 436 shares during the last quarter. UMB Bank n.a. lifted its position in APA by 18.1% during the 1st quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock worth $98,000 after acquiring an additional 439 shares during the period. Finally, Triton Wealth Management PLLC grew its stake in APA by 1.6% during the 1st quarter. Triton Wealth Management PLLC now owns 28,943 shares of the company’s stock valued at $922,000 after purchasing an additional 449 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APA. Sanford C. Bernstein reduced their price objective on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Evercore ISI lowered shares of APA from an “outperform” rating to an “inline” rating and reduced their price target for the stock from $52.00 to $39.00 in a research report on Friday, June 14th. Truist Financial upped their price objective on shares of APA from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Susquehanna raised their target price on shares of APA from $54.00 to $57.00 and gave the stock a “positive” rating in a report on Tuesday, May 7th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $31.00 price target on shares of APA in a report on Friday, June 14th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.05.

APA Trading Down 2.9 %

Shares of APA stock opened at $28.49 on Monday. APA Co. has a 1-year low of $26.81 and a 1-year high of $46.15. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 3.19 and a beta of 3.26. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50 day simple moving average of $29.50 and a 200-day simple moving average of $30.65.

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

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.