Mitsubishi UFJ Asset Management Co. Ltd. Takes $15.21 Million Position in APA Corporation $APA

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of APA Corporation (NASDAQ:APA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 467,081 shares of the company’s stock, valued at approximately $15,212,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.13% of APA as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in APA by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after purchasing an additional 2,070 shares in the last quarter. NewEdge Advisors LLC raised its stake in APA by 49.6% during the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after acquiring an additional 3,578 shares during the period. Goldman Sachs Group Inc. raised its position in shares of APA by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after purchasing an additional 806,252 shares during the period. Focus Partners Wealth lifted its stake in APA by 10.6% in the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after buying an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in APA in the 2nd quarter valued at about $5,199,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APA shares. Sanford C. Bernstein boosted their price target on APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 20th. Zacks Research lowered shares of APA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. UBS Group dropped their price target on APA from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Truist Financial boosted their target price on shares of APA from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of APA from $38.00 to $41.00 in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.50.

APA Price Performance

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

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period in the prior year, the business earned $0.87 earnings per share. On average, sell-side analysts forecast that APA Corporation will post 5.27 EPS for the current fiscal year.

APA Company 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.