APA Co. (NASDAQ:APA) Shares Bought by Elm Ridge Management LLC

Elm Ridge Management LLC raised its stake in APA Co. (NASDAQ:APA) by 22.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,202 shares of the company’s stock after acquiring an additional 20,221 shares during the quarter. APA makes up 4.1% of Elm Ridge Management LLC’s portfolio, making the stock its 11th biggest holding. Elm Ridge Management LLC’s holdings in APA were worth $3,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Covestor Ltd increased its stake in APA by 117.8% in the first quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after purchasing an additional 437 shares during the last quarter. Achmea Investment Management B.V. increased its stake in APA by 100.0% in the fourth quarter. Achmea Investment Management B.V. now owns 784 shares of the company’s stock valued at $34,000 after purchasing an additional 392 shares during the last quarter. Money Concepts Capital Corp increased its stake in APA by 228.6% in the fourth quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock valued at $34,000 after purchasing an additional 503 shares during the last quarter. Machina Capital S.A.S. acquired a new position in APA in the first quarter valued at $35,000. Finally, Lindbrook Capital LLC increased its stake in APA by 35.9% in the first quarter. Lindbrook Capital LLC now owns 1,075 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the last quarter. 80.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on APA. Jefferies Financial Group upped their target price on APA from $39.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, August 28th. Mizuho upped their price target on APA from $39.00 to $47.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 16th. Morgan Stanley upped their price target on APA from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. Wells Fargo & Company upped their price target on APA from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, September 1st. Finally, Royal Bank of Canada upped their price target on APA from $47.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, APA has a consensus rating of “Hold” and a consensus target price of $47.43.

APA Stock Down 0.2 %

NASDAQ APA traded down $0.11 during mid-day trading on Friday, reaching $44.26. 4,311,386 shares of the company’s stock traded hands, compared to its average volume of 3,151,280. APA Co. has a 1-year low of $30.67 and a 1-year high of $50.58. The company has a fifty day simple moving average of $40.85 and a 200-day simple moving average of $36.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 3.29. The company has a market cap of $13.60 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 8.68 and a beta of 3.53.

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

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.