Wellington Management Group LLP Lowers Holdings in APA Corporation $APA

Wellington Management Group LLP trimmed its position in APA Corporation (NASDAQ:APA) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 344,109 shares of the company’s stock after selling 15,682 shares during the period. Wellington Management Group LLP owned 0.10% of APA worth $11,208,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Hollencrest Capital Management increased its holdings in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC bought a new stake in APA during the first quarter valued at $28,000. Compass Financial Management LLC bought a new stake in APA during the second quarter valued at $33,000. MidFirst Bank purchased a new position in APA during the second quarter worth about $33,000. Finally, Global Assets Advisory LLC purchased a new position in APA during the first quarter worth about $44,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Truist Financial upped their target price on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Seaport Research Partners began coverage on APA in a report on Thursday, September 3rd. They set a “neutral” rating for the company. KeyCorp set a $46.00 price objective on shares of APA in a research report on Wednesday, August 12th. Roth Capital set a $39.00 target price on shares of APA in a research note on Thursday, August 6th. Finally, Argus raised shares of APA from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, August 19th. Nine investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.07.

APA Stock Performance

NASDAQ APA opened at $42.77 on Tuesday. The company has a 50-day simple moving average of $38.02 and a two-hundred day simple moving average of $37.07. APA Corporation has a 12-month low of $21.57 and a 12-month high of $45.66. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.75 and a beta of 0.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same quarter in the prior year, the firm posted $0.87 EPS. On average, equities analysts forecast that APA Corporation will post 5.7 EPS for the current 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.