Citigroup Inc. Lowers Stock Holdings in APA Co. (NASDAQ:APA)

Citigroup Inc. trimmed its position in shares of APA Co. (NASDAQ:APA) by 56.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 484,725 shares of the company’s stock after selling 621,036 shares during the quarter. Citigroup Inc. owned 0.16% of APA worth $17,479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cetera Advisor Networks LLC purchased a new position in shares of APA in the 1st quarter valued at about $295,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of APA by 3,173.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,088 shares of the company’s stock valued at $706,000 after buying an additional 16,566 shares during the period. Acadian Asset Management LLC purchased a new position in shares of APA in the 1st quarter valued at about $145,000. Raymond James Trust N.A. purchased a new position in shares of APA in the 1st quarter valued at about $328,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of APA by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,836 shares of the company’s stock valued at $56,324,000 after buying an additional 29,907 shares during the period. 80.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group boosted their target price on APA from $35.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Piper Sandler boosted their target price on APA from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Benchmark assumed coverage on APA in a research note on Wednesday, July 12th. They set a “buy” rating and a $46.00 target price for the company. 58.com restated a “maintains” rating on shares of APA in a research note on Wednesday, June 14th. Finally, Bank of America decreased their target price on APA from $60.00 to $57.00 in a research note on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $47.36.

APA Trading Up 0.4 %

APA opened at $42.90 on Tuesday. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 8.46 and a beta of 3.53. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.29. The business’s 50 day moving average is $38.87 and its two-hundred day moving average is $36.36. APA Co. has a 52 week low of $30.67 and a 52 week high of $50.58.

APA (NASDAQ:APA) last released its earnings results on Thursday, August 3rd. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.19. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.74 billion. APA had a return on equity of 117.05% and a net margin of 16.14%. The company’s revenue for the quarter was down 41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 earnings per share. On average, research analysts predict that APA Co. will post 4.24 EPS for the current year.

APA Profile

APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.