APA Corporation $APA Shares Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC lifted its position in APA Corporation (NASDAQ:APA) by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 550,000 shares of the company’s stock after purchasing an additional 125,000 shares during the period. Pacific Heights Asset Management LLC owned about 0.16% of APA worth $13,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in APA. Deseret Mutual Benefit Administrators lifted its stake in shares of APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after purchasing an additional 891 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of APA in the 3rd quarter valued at $34,000. Camelot Portfolios LLC acquired a new position in shares of APA in the 4th quarter valued at $37,000. Community Bank N.A. acquired a new position in shares of APA in the 3rd quarter valued at $43,000. Finally, LRI Investments LLC lifted its stake in shares of APA by 4,697.7% in the 3rd quarter. LRI Investments LLC now owns 2,063 shares of the company’s stock valued at $50,000 after purchasing an additional 2,020 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on APA shares. Evercore boosted their target price on shares of APA from $25.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, March 24th. Sanford C. Bernstein upped their price objective on shares of APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, May 11th. Barclays upgraded shares of APA from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective for the company in a research report on Monday, March 23rd. Scotiabank upped their price objective on shares of APA from $26.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of APA from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, APA currently has an average rating of “Hold” and an average target price of $39.81.

APA Stock Performance

NASDAQ:APA opened at $38.98 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The company has a fifty day moving average of $38.17 and a two-hundred day moving average of $30.08. The stock has a market capitalization of $13.78 billion, a PE ratio of 9.09 and a beta of 0.38. APA Corporation has a fifty-two week low of $16.15 and a fifty-two week high of $45.66.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 earnings per share. As a group, research analysts forecast that APA Corporation will post 5.2 earnings per share for the current fiscal year.

Insider Activity at APA

In other news, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director directly owned 6,634 shares in the company, valued at $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is owned by company insiders.

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.