84,869 Shares in APA Co. (NASDAQ:APA) Bought by Ellis Investment Partners LLC

Ellis Investment Partners LLC bought a new position in shares of APA Co. (NASDAQ:APA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 84,869 shares of the company’s stock, valued at approximately $2,499,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Caprock Group LLC acquired a new position in APA during the 2nd quarter worth $310,000. Acadian Asset Management LLC acquired a new position in APA during the 2nd quarter worth $767,000. Arizona State Retirement System grew its stake in APA by 22.1% during the 2nd quarter. Arizona State Retirement System now owns 101,755 shares of the company’s stock worth $2,996,000 after purchasing an additional 18,400 shares in the last quarter. Victory Capital Management Inc. grew its stake in APA by 17.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,111,562 shares of the company’s stock worth $32,724,000 after purchasing an additional 163,409 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in APA by 1.1% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,451,439 shares of the company’s stock worth $42,730,000 after purchasing an additional 16,287 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Down 2.8 %

APA opened at $25.24 on Friday. The business has a 50 day moving average price of $29.24 and a two-hundred day moving average price of $30.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market cap of $9.37 billion, a PE ratio of 2.82 and a beta of 3.24. APA Co. has a 52 week low of $25.09 and a 52 week high of $44.98.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm’s revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. As a group, research analysts anticipate that APA Co. will post 4.36 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler lowered their target price on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price target on shares of APA in a report on Thursday. Scotiabank decreased their price target on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Truist Financial lifted their price target on APA from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Wolfe Research began coverage on APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 price target for the company. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.81.

About APA

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.