APA Co. (NASDAQ:APA) Shares Sold by Stonebridge Capital Advisors LLC

Stonebridge Capital Advisors LLC trimmed its position in APA Co. (NASDAQ:APA) by 52.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,040 shares of the company’s stock after selling 1,125 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in APA were worth $38,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in APA by 9.9% in the first quarter. Pacer Advisors Inc. now owns 4,915,113 shares of the company’s stock valued at $177,239,000 after purchasing an additional 440,887 shares during the last quarter. Morgan Stanley raised its stake in APA by 3.6% during the 4th quarter. Morgan Stanley now owns 4,458,954 shares of the company’s stock worth $208,144,000 after acquiring an additional 153,743 shares in the last quarter. Northern Trust Corp lifted its position in APA by 6.7% in the first quarter. Northern Trust Corp now owns 3,655,854 shares of the company’s stock valued at $151,097,000 after acquiring an additional 229,516 shares during the last quarter. Smead Capital Management Inc. acquired a new position in APA in the first quarter valued at $121,788,000. Finally, LSV Asset Management grew its holdings in shares of APA by 82.6% during the fourth quarter. LSV Asset Management now owns 3,337,722 shares of the company’s stock worth $155,805,000 after purchasing an additional 1,509,555 shares during the last quarter. Hedge funds and other institutional investors own 80.48% of the company’s stock.

APA Price Performance

NASDAQ:APA traded up $1.24 during mid-day trading on Monday, hitting $45.08. 3,421,300 shares of the company’s stock traded hands, compared to its average volume of 5,439,717. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $13.85 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 8.82 and a beta of 3.53. The firm’s 50 day simple moving average is $39.72 and its 200 day simple moving average is $36.49. APA Co. has a 1 year low of $30.67 and a 1 year high of $50.58.

APA (NASDAQ:APA) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.19. APA had a net margin of 16.14% and a return on equity of 117.05%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the company posted $2.37 EPS. The company’s revenue was down 41.2% on a year-over-year basis. Sell-side analysts expect that APA Co. will post 4.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APA. VNET Group reissued a “maintains” rating on shares of APA in a research report on Wednesday, June 14th. Truist Financial reiterated a “buy” rating and issued a $59.00 price target on shares of APA in a research report on Wednesday, August 16th. UBS Group increased their price target on shares of APA from $35.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Jefferies Financial Group lifted their price objective on shares of APA from $39.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, August 28th. Finally, Benchmark initiated coverage on shares of APA in a research note on Wednesday, July 12th. They set a “buy” rating and a $46.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, APA has a consensus rating of “Hold” and a consensus target price of $47.43.

APA Profile

APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.