Denali Advisors LLC Acquires 12,819 Shares of APA Corporation $APA

Denali Advisors LLC boosted its holdings in APA Corporation (NASDAQ:APA) by 175.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,125 shares of the company’s stock after buying an additional 12,819 shares during the period. Denali Advisors LLC’s holdings in APA were worth $655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in APA during the 2nd quarter worth $1,173,231,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of APA by 1,726.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock valued at $205,176,000 after purchasing an additional 4,569,779 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of APA in the 2nd quarter valued at $134,558,000. Goldman Sachs Group Inc. boosted its position in shares of APA by 76.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock worth $175,426,000 after purchasing an additional 3,117,032 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of APA by 157.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after purchasing an additional 1,869,891 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on APA shares. Mizuho upgraded APA to a “strong sell” rating in a report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on APA from $38.00 to $41.00 in a report on Friday, May 8th. Susquehanna raised their target price on shares of APA from $45.00 to $47.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. BMO Capital Markets cut their price target on shares of APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 13th. Finally, Raymond James Financial reduced their price objective on APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Ten analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.50.

APA Trading Up 2.2%

NASDAQ APA opened at $44.39 on Friday. APA Corporation has a 12 month low of $19.96 and a 12 month high of $45.66. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $35.85 and a 200-day moving average of $35.74. The company has a market cap of $15.55 billion, a PE ratio of 9.38 and a beta of 0.35.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same period last year, the company posted $0.87 earnings per share. On average, equities research analysts anticipate that APA Corporation will post 5.27 EPS for the current fiscal 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.