APA Corporation $APA Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of APA Corporation (NASDAQ:APA) by 30.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,661,518 shares of the company’s stock after selling 724,934 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in APA were worth $54,116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in APA. Thrivent Financial for Lutherans boosted its position in shares of APA by 85.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock worth $1,976,000 after buying an additional 37,180 shares during the period. Prudential PLC grew its stake in shares of APA by 753.2% in the 4th quarter. Prudential PLC now owns 136,744 shares of the company’s stock valued at $3,345,000 after buying an additional 120,717 shares in the last quarter. PNC Financial Services Group Inc. grew its position in APA by 20.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock worth $4,723,000 after acquiring an additional 32,357 shares in the last quarter. Hoertkorn Richard Charles acquired a new position in APA during the first quarter worth $2,429,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of APA during the 4th quarter valued at about $19,968,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APA shares. Wells Fargo & Company raised their target price on shares of APA from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday. Truist Financial lifted their price objective on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Capital One Financial upped their target price on shares of APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded APA from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Stephens upped their price objective on shares of APA from $43.00 to $47.00 in a research note on Wednesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.68.

APA Stock Up 0.9%

Shares of NASDAQ:APA opened at $44.69 on Thursday. The company has a 50 day moving average of $37.41 and a 200-day moving average of $36.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. APA Corporation has a one year low of $21.57 and a one year high of $45.66. The stock has a market cap of $15.66 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 0.80 and a beta of 0.37.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. On average, sell-side analysts forecast that APA Corporation will post 5.54 earnings per share for the current year.

APA Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.