LifePro Asset Management Invests $8 Million in APA Co. (NASDAQ:APA)

LifePro Asset Management purchased a new position in APA Co. (NASDAQ:APA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 369,732 shares of the company’s stock, valued at approximately $7,997,000. APA comprises about 2.4% of LifePro Asset Management’s holdings, making the stock its 20th biggest position.

Other institutional investors have also bought and sold shares of the company. FMR LLC lifted its position in APA by 11.4% in the 1st quarter. FMR LLC now owns 1,228,048 shares of the company’s stock valued at $42,564,000 after purchasing an additional 125,520 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in APA by 15.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 318,087 shares of the company’s stock valued at $11,024,000 after purchasing an additional 43,722 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in APA by 8.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,826 shares of the company’s stock valued at $194,000 after purchasing an additional 812 shares during the last quarter. IFP Advisors Inc lifted its position in APA by 40.0% in the 1st quarter. IFP Advisors Inc now owns 3,496 shares of the company’s stock valued at $61,000 after purchasing an additional 999 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in APA by 57.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,187 shares of the company’s stock valued at $39,000 after purchasing an additional 796 shares during the last quarter. Institutional investors own 82.42% of the company’s stock.

Shares of APA stock traded up $0.88 during trading on Wednesday, hitting $20.23. The stock had a trading volume of 337,747 shares, compared to its average volume of 7,944,861. The stock has a 50 day simple moving average of $18.59 and a 200 day simple moving average of $19.79. The company has a market capitalization of $7.65 billion, a PE ratio of 11.37, a P/E/G ratio of 0.50 and a beta of 4.94. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 110.79. APA Co. has a 1 year low of $7.45 and a 1 year high of $24.30.

APA (NASDAQ:APA) last released its earnings results on Tuesday, August 3rd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.13. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.50 billion. APA had a net margin of 11.43% and a negative return on equity of 145.33%. The firm’s quarterly revenue was up 137.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.74) earnings per share. As a group, equities analysts expect that APA Co. will post 3.2 earnings per share for the current fiscal year.

Several analysts recently weighed in on APA shares. JPMorgan Chase & Co. downgraded shares of APA from an “overweight” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research report on Friday, June 25th. Sanford C. Bernstein raised shares of APA from a “market perform” rating to an “outperform” rating and raised their target price for the company from $23.00 to $35.00 in a research note on Monday, June 21st. Truist lowered their target price on shares of APA from $24.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, July 20th. Morgan Stanley lowered their target price on shares of APA from $33.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, August 23rd. Finally, Zacks Investment Research cut shares of APA from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a research note on Tuesday, August 31st. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, APA presently has a consensus rating of “Buy” and an average target price of $24.97.

In related news, Director Chansoo Joung sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $19.06, for a total transaction of $381,200.00. Following the completion of the sale, the director now directly owns 25,285 shares in the company, valued at $481,932.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

About APA

APA Corp. explores for oil and natural gas through its subsidiaries. It produces oil and gas with operations in the the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. The company was founded in 1954 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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