Resonant Capital Advisors LLC Grows Stock Position in APA Co. (NASDAQ:APA)

Resonant Capital Advisors LLC grew its holdings in shares of APA Co. (NASDAQ:APA) by 45.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,150 shares of the company’s stock after purchasing an additional 2,854 shares during the quarter. Resonant Capital Advisors LLC’s holdings in APA were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after acquiring an additional 2,004,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in APA by 10.6% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after acquiring an additional 1,938,335 shares in the last quarter. Harris Associates L P increased its holdings in APA by 17.8% in the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after acquiring an additional 2,367,570 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after acquiring an additional 455,312 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in APA by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,619,374 shares of the company’s stock worth $93,983,000 after acquiring an additional 88,061 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on APA. Citigroup reduced their target price on shares of APA from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Sanford C. Bernstein cut their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Piper Sandler cut their price objective on shares of APA from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Truist Financial increased their price objective on shares of APA from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Evercore ISI lowered shares of APA from an “outperform” rating to an “inline” rating and cut their price objective for the company from $52.00 to $39.00 in a report on Friday, June 14th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.05.

APA Stock Down 6.1 %

NASDAQ APA opened at $26.74 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $9.93 billion, a P/E ratio of 2.99 and a beta of 3.26. APA Co. has a one year low of $26.67 and a one year high of $46.15. The stock has a 50 day moving average price of $29.44 and a 200-day moving average price of $30.60.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s revenue was up 41.6% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. As a group, equities analysts predict that APA Co. will post 4.36 EPS for the current fiscal year.

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.