US Asset Management LLC Buys Shares of 7,025 APA Co. (NASDAQ:APA)

US Asset Management LLC purchased a new position in shares of APA Co. (NASDAQ:APA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,025 shares of the company’s stock, valued at approximately $252,000.

Several other large investors also recently made changes to their positions in APA. Commonwealth Equity Services LLC raised its stake in shares of APA by 16.2% in the third quarter. Commonwealth Equity Services LLC now owns 64,406 shares of the company’s stock worth $2,647,000 after acquiring an additional 9,001 shares during the last quarter. Brown Advisory Inc. bought a new position in APA during the 3rd quarter worth about $222,000. Mackenzie Financial Corp increased its holdings in APA by 1.7% during the 3rd quarter. Mackenzie Financial Corp now owns 43,193 shares of the company’s stock worth $1,713,000 after purchasing an additional 725 shares in the last quarter. Advisor Partners II LLC increased its holdings in APA by 4.3% during the 3rd quarter. Advisor Partners II LLC now owns 56,415 shares of the company’s stock worth $2,319,000 after purchasing an additional 2,341 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of APA by 13.9% in the 3rd quarter. TD Asset Management Inc now owns 853,257 shares of the company’s stock valued at $35,069,000 after acquiring an additional 103,846 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

APA has been the subject of several recent analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $28.00 target price on shares of APA in a research note on Monday, April 15th. Scotiabank restated a “sector perform” rating and set a $37.00 price objective (down from $43.00) on shares of APA in a research report on Tuesday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price objective on shares of APA in a research report on Monday, April 8th. The Goldman Sachs Group cut their price objective on shares of APA from $35.00 to $31.00 and set a “sell” rating for the company in a research report on Tuesday, March 26th. Finally, Roth Mkm boosted their price target on APA from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.20.

APA Stock Up 1.2 %

Shares of APA traded up $0.37 on Thursday, reaching $30.88. The company’s stock had a trading volume of 4,541,668 shares, compared to its average volume of 6,851,842. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $9.30 billion, a PE ratio of 3.44 and a beta of 3.29. APA Co. has a twelve month low of $28.90 and a twelve month high of $46.15. The firm has a fifty day moving average of $32.54 and a 200-day moving average of $33.80.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Equities analysts predict that APA Co. will post 5.03 EPS for the current 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.