Man Group plc Takes Position in APA Corporation $APA

Man Group plc purchased a new stake in shares of APA Corporation (NASDAQ:APA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 52,054 shares of the company’s stock, valued at approximately $1,695,000.

Other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management boosted its position in APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares during the period. Cedar Mountain Advisors LLC purchased a new position in APA during the 1st quarter valued at about $28,000. Compass Financial Management LLC acquired a new position in shares of APA in the 2nd quarter valued at about $33,000. MidFirst Bank acquired a new position in shares of APA in the 2nd quarter valued at about $33,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of APA in the first quarter worth approximately $44,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Performance

Shares of NASDAQ APA opened at $44.30 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 0.78 and a beta of 0.35. The business’s 50-day simple moving average is $37.18 and its 200-day simple moving average is $36.61. APA Corporation has a 52 week low of $21.57 and a 52 week high of $45.66.

APA (NASDAQ:APA) last posted its 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 during the quarter, compared to analyst estimates of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same quarter last year, the firm posted $0.87 earnings per share. As a group, equities research analysts expect that APA Corporation will post 5.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on APA shares. Truist Financial boosted their price objective on shares of APA from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Morgan Stanley cut their target price on shares of APA from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, June 26th. KeyCorp set a $46.00 target price on shares of APA in a research note on Wednesday, August 12th. Raymond James Financial dropped their price target on shares of APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, Mizuho upgraded APA to a “strong sell” rating in a report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.50.

APA 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.