APA Corporation $APA Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC grew its stake in shares of APA Corporation (NASDAQ:APA) by 135.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,939 shares of the company’s stock after buying an additional 35,624 shares during the quarter. NewEdge Wealth LLC’s holdings in APA were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators lifted its holdings in shares of APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after buying an additional 891 shares during the period. Atlantic Union Bankshares Corp bought a new stake in APA in the third quarter worth about $34,000. Spire Wealth Management raised its position in APA by 179.6% in the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after acquiring an additional 977 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in APA in the 4th quarter valued at about $37,000. Finally, Community Bank N.A. acquired a new stake in APA during the third quarter valued at approximately $43,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on APA shares. Roth Mkm boosted their target price on APA from $27.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. BMO Capital Markets cut their price objective on APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a report on Wednesday. Scotiabank upped their price objective on shares of APA from $26.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Truist Financial lifted their target price on shares of APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 20th. Finally, Royal Bank Of Canada boosted their price target on shares of APA from $29.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.81.

APA Trading Down 0.3%

Shares of NASDAQ APA opened at $36.97 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. APA Corporation has a one year low of $16.15 and a one year high of $45.66. The business has a 50-day moving average price of $37.90 and a two-hundred day moving average price of $29.87. The firm has a market capitalization of $13.07 billion, a PE ratio of 8.62 and a beta of 0.38.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 EPS. As a group, analysts predict that APA Corporation will post 5.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the completion of the sale, the director owned 6,634 shares of the company’s stock, valued at approximately $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

About APA

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.