Benjamin F. Edwards & Company Inc. Buys 2,028 Shares of APA Co. (NASDAQ:APA)

Benjamin F. Edwards & Company Inc. increased its stake in APA Co. (NASDAQ:APA) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,935 shares of the company’s stock after buying an additional 2,028 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in APA were worth $428,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Summit Global Investments raised its holdings in shares of APA by 19.0% in the fourth quarter. Summit Global Investments now owns 6,315 shares of the company’s stock worth $227,000 after buying an additional 1,010 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of APA by 13.0% during the fourth quarter. First Trust Direct Indexing L.P. now owns 6,598 shares of the company’s stock worth $237,000 after purchasing an additional 760 shares during the last quarter. Marco Investment Management LLC boosted its stake in shares of APA by 3.8% during the fourth quarter. Marco Investment Management LLC now owns 64,012 shares of the company’s stock valued at $2,297,000 after purchasing an additional 2,320 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of APA in the fourth quarter worth about $261,000. Finally, Atria Wealth Solutions Inc. purchased a new position in APA in the 4th quarter worth about $485,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Price Performance

Shares of NASDAQ APA opened at $30.51 on Thursday. APA Co. has a 52 week low of $28.90 and a 52 week high of $46.15. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a market cap of $9.19 billion, a P/E ratio of 3.41 and a beta of 3.29. The business’s 50 day moving average price is $32.54 and its 200 day moving average price is $33.80.

APA (NASDAQ:APA) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the company earned $1.19 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts expect that APA Co. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on APA. Barclays lowered their price objective on shares of APA from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company initiated coverage on APA in a report on Wednesday, April 24th. They set an “overweight” rating and a $55.00 price objective on the stock. Raymond James dropped their price target on APA from $44.00 to $43.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Piper Sandler lifted their price objective on APA from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Morgan Stanley restated an “underweight” rating and issued a $28.00 price target on shares of APA in a report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.20.

APA Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.