Daiwa Securities Group Inc. Boosts Stock Position in APA Co. (NASDAQ:APA)

Daiwa Securities Group Inc. increased its stake in APA Co. (NASDAQ:APA) by 33.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,809 shares of the company’s stock after buying an additional 9,898 shares during the period. Daiwa Securities Group Inc.’s holdings in APA were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares during the last quarter. Wealthquest Corp boosted its stake in APA by 21.7% during the 4th quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock valued at $5,533,000 after purchasing an additional 27,513 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in APA by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock valued at $66,093,000 after purchasing an additional 345,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in APA by 10.6% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after purchasing an additional 1,938,335 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in APA by 18.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,580 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Price Performance

NASDAQ:APA opened at $23.94 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $28.71 and its two-hundred day simple moving average is $30.27. The stock has a market cap of $8.86 billion, a PE ratio of 2.68 and a beta of 3.24. APA Co. has a 52 week low of $22.72 and a 52 week high of $43.58.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 41.6% on a year-over-year basis. As a group, analysts forecast that APA Co. will post 4.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on APA shares. Mizuho increased their target price on APA from $34.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, May 21st. Truist Financial raised their price target on APA from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wolfe Research assumed coverage on APA in a research note on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price target on the stock. Piper Sandler dropped their price target on APA from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price target on shares of APA in a research note on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.00.

APA Company 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.