Highland Capital Management LLC Has $3.84 Million Stock Holdings in APA Co. (NASDAQ:APA)

Highland Capital Management LLC reduced its position in shares of APA Co. (NASDAQ:APA) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,448 shares of the company’s stock after selling 10,602 shares during the quarter. Highland Capital Management LLC’s holdings in APA were worth $3,840,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of APA. Vanguard Group Inc. raised 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 during the period. Summa Corp. bought a new position in shares of APA in the fourth quarter worth about $7,571,000. Wealthquest Corp lifted its position in shares of APA by 21.7% during the 4th quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock worth $5,533,000 after purchasing an additional 27,513 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of APA by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock worth $66,093,000 after purchasing an additional 345,192 shares during the last quarter. Finally, 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 period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Trading Up 2.0 %

Shares of APA stock traded up $0.55 on Friday, reaching $28.47. 3,948,562 shares of the stock were exchanged, compared to its average volume of 6,201,763. The stock has a 50 day moving average price of $29.43 and a 200 day moving average price of $30.70. The stock has a market cap of $10.57 billion, a PE ratio of 3.18 and a beta of 3.26. APA Co. has a one year low of $26.81 and a one year high of $46.15. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.16.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. Equities research analysts forecast that APA Co. will post 4.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group dropped their price target on APA from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Sanford C. Bernstein cut their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Wolfe Research initiated coverage on shares of APA in a research report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price target on the stock. Truist Financial increased their target price on shares of APA from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com cut shares of APA from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.27.

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.