Quantitative Investment Management LLC Takes $1.35 Million Position in APA Corporation $APA

Quantitative Investment Management LLC purchased a new stake in shares of APA Corporation (NASDAQ:APA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 41,594 shares of the company’s stock, valued at approximately $1,354,000.

A number of other institutional investors also recently bought and sold shares of the stock. Two Sigma Securities LLC purchased a new position in APA during the second quarter worth $835,000. Alyeska Investment Group L.P. purchased a new stake in shares of APA in the second quarter valued at $13,588,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of APA by 4,810.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 114,905 shares of the company’s stock valued at $3,742,000 after acquiring an additional 112,565 shares during the period. New Mexico Educational Retirement Board lifted its holdings in shares of APA by 7.3% in the 2nd quarter. New Mexico Educational Retirement Board now owns 17,649 shares of the company’s stock worth $575,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Mufg Securities Americas Inc. lifted its holdings in shares of APA by 8.5% in the 2nd quarter. Mufg Securities Americas Inc. now owns 10,647 shares of the company’s stock worth $347,000 after acquiring an additional 833 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APA has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of APA from $38.00 to $41.00 in a report on Friday, May 8th. Raymond James Financial dropped their target price on APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Morgan Stanley cut their target price on APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, June 26th. Barclays reduced their price target on APA from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Finally, Argus raised APA from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, August 19th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.50.

APA Stock Performance

Shares of NASDAQ:APA opened at $43.15 on Tuesday. The firm has a market cap of $15.12 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The firm’s 50 day simple moving average is $36.98 and its 200-day simple moving average is $36.50. APA Corporation has a one year low of $21.57 and a one year high of $45.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate 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 firm posted $0.87 EPS. As a group, equities analysts predict that APA Corporation will post 5.54 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.